Intellectual capital is the stock of knowledge, innovation, and creativity or
imagination in a region. Imagination is what allows us to create new knowledge and
discover new ways of relating. Investment in intellectual capital is through research
and development and support for activities that engage the imagination, as well as
diffusion of new knowledge and applications. Earnings from intellectual capital include
inventions, new discoveries, new knowledge, and new ways of seeing.
Individual capital is the stock of skills and physical and mental healthiness of
people in a region. Investments in human capital include spending on skill development
(e.g. literacy, numeracy, computer literacy, technical skills, etc.) and health
maintenance and improvement. Earnings from investments in human capital include
psychic and physical energy for productive engagement and capacity to apply existing
knowledge and internalize new knowledge to increase productivity.

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