Introduction

As the introductory part of the book，we briefly describe the background and related concepts studied in this book，and sketch the elements such as AI，intellectual labor，intellectual capital，neurons，value and innovation，trying to explore the inner links behind these elements.This book is a new exploration in the intersection of economics，management，psychology，neuroscience and law，showing a clear interdisciplinary analysis based on intellectual labor and knowledge value from the perspective of a circulation of intellectual capital value.

Part I The Theory Part

Chapter 1 “New” Intellectual Capital，What Is the New

One the one hand，in the era of knowledge economy，“New”Intellectual Capital means the role of intellectual labor on value creation，value extraction and value realization has gained more development space under the background of Internet Plus and sharing economy，meanwhile，the practice of intellectual labor has objectively promoted the system of“intellectual labor value theory”.

On the other hand，the economic value of the brain mechanism has gradually surfaced in the era of AI，and scientific technologies such as AI and brain nerves will bring a new revolution to the economics.With the development of neuroeconomics in the past decade，neuroscience，in particular，has provided many profound insights into the basic mechanisms of human consciousness，new breakthroughs have been made in the relationship between the inner mechanism of the brain and human decision-making，which makes possibilities to explore the rules between the value creation of intelligence（knowledge） and the brain mechanism.

Therefore，“new”intellectual capital theory in this book actually combines labor theory of value，intellectual capital theory and the basic theory of neuroeconomics.On the basis of our previous research results on intellectual labor theory of value，we specially highlight the role of brain mechanism neurons in this socalled“new”intellectual capital theory.

Chapter 2 “Magic” Neurons，What Is the Wonderful

The intellectual capital value circulation system discussed in this book highlights the role of brain neurons.Given that traditional economic theory does not refer to the influence of brain mechanisms，in this chapter we try to summarize research results of the forward-looking topic of neuroeconomics，providing scientific support for our theoretical system of Chapter 3.Meanwhile，this chapter attempts to answer the following questions：how to unite neurons and economics，how to link the economics of utility with psychological perceptions and neuroscience theories about sensory coding，how the introduction of brain mechanism corrects the theory of expected utility，what is learning mechanism and value evaluation of neurons，and the influence of emotion and affective factors on economics，etc.

Chapter 3 The Model of “New” Intellectual Capital Value System

This chapter constructs a“new”intellectual capital value circulation system model：ICV=C+E+R+D，where ICV is Intellectual Capital Value，C is Value Creation，E is Value Extraction，R is Value Realization，and D is Value Distribution.Both Value Creation C circulation and Value Extraction E circulation belong to the production field，while Value Realization R circulation belongs to the circulation field，and Value Distribution D circulation belongs to the distribution field.That is，the four circulation systems of the theory refers to the production field，the circulation field and the distribution field.

The HSR paradigm （formula）is a static model focusing on the components of Intellectual Capital（Human Capital，Structural Capital and Relational Capital），while the CERD circulation is a dynamic circulation focusing on the Value Chain of Intellectual Capital；there is a mapping relationship between the two kinds of paradigm.In fact，human capital H is the main force of the C circulation，structural capital S is the main platform of the E circulation，and relational capital R is the main driving force of the R circulation.The ICV model is a value circulation derived from the original IC model，and it highlights the important role and influence of brain neurons in each value circulation.Meanwhile，the ICV model is an outline and description of intelligence（knowledge）value based on neuron level.Moreover，we also elaborate the CERD circulation system from the five dimensions of economics，management，law，psychology and brain science.The characteristic of CERD circulationcan be describes as following：

First，the four links coexist in space and follow in time，it is a circulation of repetition.Value Creation C is the source of intellectual capital value circulation，while Value Extraction E is the basis point，Value Realization R is the key point，and Value Distribution D is the driving force point.The four links are interlocking to promote the complete operation of the intellectual capital value chain.For example，without the first C circulation，everything would become“water without a source”and the value chain would quickly be withered；without the second E circulation，everything would become a fantasy and the value chain would lose its support；without the third R circulation，the real money would lose the platform of realization and the value chain would lose its meaning；without the fourth D circulation，intellectual workers would have no incentive to think creatively and the value chain would break down.

Second，the four links are causal and mutually reinforcing，and they are mutually indispensable.One of the links has problems，the operation of other links will be stagnant or even retrogressive.If there is a problem with Value Creation C，intellectual workers have no incentive to create value，and intelligent production becomes“water without a source”.If there is a problem with Value Extraction E，the amount of value created in intelligent production cannot be fully reflected，resulting in problems such as low production efficiency or high production costs.If the third link Value Realization R has a problem，the products produced by the intelligent products cannot be converted into commodities，no matter how cheap and high-quality the product is，the market value cannot be realized.“This is a thrilling jump.If this jump is unsuccessful，it is not the commodity but the commodity producer.”If the fourth link Value Distribution D has a problem，the unfair distribution causes the dissatisfaction of intellectual laborers，and then the intelligent production and reproduction cannot keep on moving，the entire social production will be at a standstill leading to unimaginable consequences.

Chapter 4 Multi-layered Exploration of the Topic of Value

The theory of value is an important part of the scientific theoretical system of mankind，it is the core foundation of economic theory.The“intellectual labor value theory”presented in this book is a multi-faceted theory，on the one hand，it inherits the essence of labor value theory in political economy，on the other hand，it draws on series of new research trends in western economics and frontier neuroeconomics，trying to break the boundaries of disciplines on capital，value，innovation，etc.In a word，in this chapter，we explore an operational mechanism of intellectual capital“value chain”behind social and economic activity in interdisciplinary integration with the latest era background.

Part II The Application Part

Chapter 5 Intellectual Capital and National Innovation

The national intellectual capital is located at the highest end of the“inverted pyramid”of intellectual capital，and represents the country's innovation ability and core competitiveness.This chapter consists of three subsections.First，we explore the relationship between intellectual capital and economic development and innovation at the macro level from the perspective of static intellectual capital composition and dynamic intellectual capital value circulation.Second，we analyze the background of the sharing economy and its relationship with intellectual capital，then we point out the sharing platform should consider the link between supply and demand，market operation mode，and rules maximizing ICV.Third，based on the background of SNA 2008 international standard of R＆D capitalization，R＆D innovation capital is separated from intellectual capital，and the impact of R＆D innovation capital on regional macroeconomic pattern is analyzed from the perspective of empirical analysis in the last section of this part.

Innovation investment is a key factor to promote the development of regional innovation-driven.SNA 2008 explicitly recommends the capitalization of R＆D，and China is about to put into practice.Based on the background of R＆D capitalization，the last section of this paper tries to measure the R＆D expenditure of Guangdong，Jiangsu，Shandong，Zhejiang，Beijing，Shanghai and Tianjin on the basis of the relevant R＆D capitalization calculation method.The result separately shows that the average contribution rate of R＆D capitalization to GDP in 2009-2015 is 4.220% in Beijing，0.821% in Jiangsu，0.500% in Shanghai，0.403% in Zhejiang，0.215% in Tianjin，0.154% in Guangdong，0.124% in Shandong.R＆D capitalization will lead a regional economic pattern adjustment，providing a new perspective for the dispute about Guangdong-Jiangsu and BeijingShanghai.

Chapter 6 Intellectual Capital and Smart City

Based on the second level of the“inverted pyramid”of intellectual capital（city/urban intellectual capital），this chapter refers to the application and development of intellectual capital in contemporary urbanization.

Through the smart city cases of London，Glasgow，Bristol and EDC in Busan，we point out smart city's ICV lies in human intelligence（main force of value creation），information technology（core means of value extraction）as well as people-oriented model，thereby the city's productivity and happiness index of urban residents will ultimately get improved.Meanwhile，we point out the smart path of urban development is to maximize the realization of urban intellectual capital value and promote the fairness and justice of the value distribution and redistribution，ensuring the virtuous circulation of ICV continues to be strengthend.

Chapter 7 Intellectual Capital Value and Enterprise Innovation

Based on the third level of the“inverted pyramid”of intellectual capital（enterprise intellectual capital），this chapter explores the development and application of intellectual capital from the perspectives of smart agriculture，emotional management and intellectual property protection，The first case in this chapter is a Chinese high-tech enterprise（XAG）dedicated to smart agriculture.XAG is one of the most scientifically-researched teams in the field of agricultural drones and robots worldwide，the successful operation law behind the high-tech enterprise is discussed from the perspective of IVC in this case.In the second case，we take emotion as an entry point to explore the relationship between Kgroup employees'emotional intelligence and employee performance，and verify the impact of emotion on value creation from the application level.In the third case，we explore the application of intellectual property in the CERD circulation of intellectual capital value from the perspective of intellectual property protection.

Chapter 8 Individual Intellectual Capital

Individual Intellectual Capital is located at the basic support point of the analytic model of“inverted pyramid”.It is the most basic unit of intellectual capital，and because of the support of individual intellectual capital，the value of Enterprise Intellectual Capital，City Intellectual Capital，and National Intellectual Capital can be reflected progressively.This chapter interprets individual interllectual capital and the ICV circulation by the story of Mr.Lai，an outstanding entrepreneur in the field of animal husbandry machinery.Compared with the enterprise cases in the previous chapter，the discrepancy is the foothold of this story focuses on the impact of individual intellectual capital on the circulation of enterprise ICV.