The expert who coined the term 'creative class' asks if demography is destiny.

In this talk at an Economist conference, Richard Florida talks about a structural adjustment that is taking place. He says that recession is a great time of innovation – the 1880s and 1930s created more technology and radical reformation of our systems than the tech revolution of the 90s and 2000s. Those changes set us on a path of sustainable prosperity. Florida argues that we are now witnessing the greatest transformation in history. The West is no longer dependent on physical resource and there is only one critical resource in the Western world that sets us apart: creativity – the core generator of wealth for building a new recovery.

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