An article in the Taipei Times that argues when it comes to creativity, size isn’t all that it is cracked up to be.
A large volume of work in economics and industrial organisation has looked at how small firms may be more innovative in certain areas than larger firms. Yet this article is referring to the relevance of a nation’s size and economic might.
It is not unpredictable for a Taiwanese source to drum up support, both domestically and abroad, for the viability of small nations, particularly given the their political relations with the ever-expanding economic juggernaut China (PRC).
Yet the article points to the high rankings of Norway, Iceland, and Ireland on the Human Development Index, of Denmark, Switzerland, and Austria in a ‘happiness’ study, of Singapore, Hong Kong, and New Zealand in an International Finance Corp. study on ease of doing business, and of Denmark, Finlan, and Sweden as being high on the 2005 Globalization Index.
For medium-sized countries such as Taiwan, the article recommends:
Taiwan’s policies for development should concentrate on opening up to globalization, and creating a globalized society with Taiwanese characteristics.
An economy of creativity is the most important type of economy in the 21st century. Taiwan has a diverse culture and a climate of unlimited creativity. It should study examples like Ireland and the Boston area in the US and establish a social framework for creativity, to let Taiwan develop a unique position and advantages.
This framework includes three things: First, a good framework for creative industry, like improved financial systems, higher budgets for research and related organizations. Second, a general creative operation models, including creative work environments and flexible production methods. Third, a geographical, cultural and social environment that gives full play to creativity.
There is a mounting body of evidence that suggests a policy framework should include measure to promote both economic freedom as well as political freedom if a nation is to encourage the development of the ‘creative economy’. Providing an solid institutional framework for financial and legal systems, together with investment in education, research, and artistic endeavour appear to be key fundamentals in happy, creative, affluent nations.
Perhaps we should consider a viable and equitable health system and aim for healthy residents as well?