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Creative Production in the Creative Industries

In: The Two Sides of Innovation

Author

Listed:
  • Michael Hutter

    (Berlin Social Science Center
    Technische Universität Berlin)

Abstract

Branches of the economy that depend strongly on a constant flow of novelty, namely those of the cultural and the creative sector, have played a central role in reversing the trend towards homogenization which, according to Schumpeter, threatened to stifle the innovative process. The particular conditions leading to the production and consumption of novelties are discussed. Most of these goods are information goods that generate affective sensations in their users. As the goods are offered and accepted by a public, valuations of their quality are communicated among amateurs and experts. The combination of surprising information and devices of valuation frames the production process in the creative industries. An economy’s capacity for processes that appreciate and depreciate new contributions, and its capacity to keep the accumulated novelty capital available in material and virtual archives, is decisive for its sustained growth.

Suggested Citation

  • Michael Hutter, 2013. "Creative Production in the Creative Industries," Economic Complexity and Evolution, in: Guido Buenstorf & Uwe Cantner & Horst Hanusch & Michael Hutter & Hans-Walter Lorenz & Fritz Rahmeyer (ed.), The Two Sides of Innovation, edition 127, pages 159-165, Springer.
    • Handle: RePEc:spr:eccchp:978-3-319-01496-8_8
    DOI: 10.1007/978-3-319-01496-8_8
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