The Economics of Talent: Human Capital, Precarity and the Creative Economy (SpringerBriefs in Regional Science)

To date, research into urban economics, regional science and economic geography has predominantly focused on the firm and industry as the key units of analysis in order to understand economic development; however, the past few decades have seen a growing interest in the role played by talent in the knowledge economy. This book provides an essential overview of the skills revolution. It presents key milestones of the changes in economic development in the past few decades and explains the motivation behind the rise of talent, as well as its importance for cities and economies. It also offers advice on how to attract and manage talent – a major determinant of competitiveness for countries and regions around the world. In closing, the book explains the underlying theories and provides practical examples for students, researchers and practitioners alike. Preface Acknowledgments Contents About the Authors List of Figures List of Tables 1 Introduction Abstract 1.1 Why Talent? Why Now? 1.2 Book Outline References 2 Defining Talent: Between Human Capital and the Creative Economy Abstract 2.1 Introduction: Why the Economics of “Talent”? 2.1.1 Talent and Human Capital: Same or Different? 2.2 Talent and the Creative Economy 2.2.1 Creative Industries and Creative Occupations 2.2.2 The Creative Class and Creative Graduates 2.3 Talent in the Future: More Precarity? References 3 Positioning Talent: History, Cities and the Growing Importance of Talent Abstract 3.1 Introduction 3.2 A Historical Look at Cities: Three Shifts in the Drivers of Economic Growth 3.3 Talent Feeds Economic Prosperity, Innovation and Productivity 3.4 Talent Enhances Competition and Collaboration 3.5 Talent Drives Consumption and Prosperity 3.6 Talent Supports Centres of Knowledge and Innovation 3.7 Attracting Talent Back to the City 3.8 The Transformation of Cities into “Entertainment Machines” 3.9 The Importance of Authenticity 3.10 Cities, Crisis and Change References 4 Challenging Talent: Cities and the Cycle of Rising Disparities Abstract 4.1 Introduction 4.2 The Cost of “Superstar” Cities 4.3 Disparities of Wages but also of Well-Being 4.4 Big City—Big Income Inequality 4.5 Bigger and More Successful Means More Segregation 4.6 Big Successful City Equals More Gentrification 4.7 Beyond the City 4.8 Closing the Gaps in Our Cities References 5 Raising Talent: Higher Education and Uneven Career Outcomes Abstract 5.1 Introduction 5.2 Studying Creative Graduates: Definitions and Articulations 5.3 Creative Labour Demand, Supply and Mismatch: Where Creative Graduates Work 5.4 Long- and Short-Term Perspectives on Creative Graduates’ Employment 5.5 Key Dynamics Across Different Creative Careers and Beyond the Creative Economy 5.6 The Value of Creative Education Beyond the Creative Industries 5.7 Policy Challenges and Conclusions References 6 Exposing Talent: Precarity and Moments of Crisis Abstract 6.1 Introduction 6.2 Understanding Creative Talent: Settings, Downfalls and Moments of Crisis 6.3 Covid-19: Leaving Talent Exposed in the UK 6.4 Conclusion: Talent at Risk? References 7 Empowering Talent: Campaigning and Activism for Work and Cities Abstract 7.1 Introduction 7.2 Creative Talent: Campaigning for Space and Rights to the City 7.3 Creative Talent Contexting and Responding to Precarity 7.4 Unpaid Work, Internships and the Value of Knowledge and Skills 7.5 Creative Workers’ Response in Moment of Crisis 7.6 Conclusion References 8 Conclusions Abstract 8.1 Supporting Talent in Its Development 8.2 Talent in Cities and Beyond: Future Creative Mobilities 8.3 Collective and Care-Full Support to Talent 8.4 Policy Implications: Talent-Centred Policy-Making References