Introduction

Nowadays economies are increasingly characterized by a growing proportion of intangible assets, not only of products, but also of—and in some cases in—productive factors. This new reality has profound consequences for the definition of capital and necessitates a reconsideration of how intangible factors, such as knowledge, social capital, and entrepreneurship, interact in the production process and influence the systemic mechanisms that affect collective efficiency. Consequently, there is a pressing need for a broad rethinking of the tools of local policy and development strategies.