“labor is relatively less mobile than other production factors.”
“As the population of educated labor has increased, productivity of human capital, investment in research and development, and accessibility to knowledge have also increased.”
“Research and development, education, training, and learning at the workplace can make a region become a source of knowledge diffusion. Therefore, a nation or region with a high level of human capital can enhance technological development, an important factor of regional economic growth. Eventually, this region is likely to gain higher competitiveness and become more capable of providing value-added services.”
“The people working in creative industries are imagined as highly-educated professionals not manual laborers or self-determined entrepreneurs.”
“The value capture of creative industries is primarily driven by lowering labor cost. This is mainly because creative industries are regarded as ‘particularly risky business’ that rely on the unpredictable taste of the consumer.”