Creating Economy
Creativity is at the vanguard of contemporary capitalism, valorized as a form of capital in its own right. It is the centrepiece of the vaunted ‘creative economy’, and within the latter, the creative industries. But what is economic about creativity? How can creative labour become the basis for a distinctive global industry? And how has the solitary artist, a figment of Romantic thought, become the creative entrepreneur of twenty-first-century economic imagining? Such questions have long provoked scholars interested in economics, sociology, management and law. This book offers a fresh approach to the theoretical problems of cultural economy, through a focus on intellectual property (IP) within the creative industries. IP and its associated rights (IPR) are followed as they journey through the creative economy, creating a hybrid IP/IPR that shapes creative products and configures the economic agency of creative producers. The book argues that IP/IPR is the central mechanism in organizing the market for creative goods, helping to manage risk, settle what is valuable, extract revenues, and protect future profits.. Most importantly, IP/IPR is crucial in the dialectic between symbolic and economic value on which the creative industries depend: IP/IPR hold the creative industries together. The book is based on a detailed empirical study of creative producers in the UK, extending sociological studies of markets to an analysis of the UK’s creative industries. It makes an important, empirically grounded contribution to debates around creativity, entrepreneurship, and precarity in creative industries and will be of interest to scholars and policymakers alike.