Leonard I. Nakamura is Emeritus Economist of the Research Department of the Federal Reserve Bank of Philadelphia. He has written numerous scholarly articles on real estate economics, banking, economic measurement, and investment in intangible assets. He has given keynote addresses at conferences across the U.S. and the world, primarily on the measurement and economic impact of creativity and innovation. Previously, he was Vice President and Economist at the Philadelphia Fed, and has taught Creativity and Economics at Swarthmore College. He holds a B.A. in social sciences from Swarthmore College and an M.A. and a Ph.D. in economics from Princeton University.