What is the creative economy?


Creative economy

“It is sometimes said that where oil was the primary fuel of the 20th century economy, creativity is the fuel of the 21st century.” – John Newbigin, Special Advisor to the UK Minister for Culture

The creative economy is an emerging concept that illustrates the relationship between creativity, culture, economics and technology.

British author John Howkins developed the concept in 2001 – although it had emerged earlier – to describe economic systems where value is based on novel imaginative qualities rather than the traditional resources of land, labor and capital.

Some industries that are included in the concept of creative economy are advertising, architecture, the art and antiques market, crafts, design, designer fashion, film, interactive leisure software, music, performing arts, publishing, software and television and radio.

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