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Culture and CommerceThe Value of Entrepreneurship in Creative Industries$
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Mukti Khaire

Print publication date: 2017

Print ISBN-13: 9780804792219

Published to Stanford Scholarship Online: January 2018

DOI: 10.11126/stanford/9780804792219.001.0001

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New World, Old Rules

New World, Old Rules

Creative Industries in the Age of Digitalization and Globalization

(p.187) 9 New World, Old Rules
Culture and Commerce

Mukti Khaire

Stanford University Press

Globalization and digitalization—the opening of economies across the globe and the advent and spread of the digital medium, respectively—have made the world smaller today. Although this new world has had positive implications for entrepreneurs and pioneer entrepreneurs, it has had negative impacts for incumbents in the creative industries. This chapter addresses the question of whether rules governing the structure and functioning of creative industries are relevant in the current context. Although globalization has typically generated market creation opportunities for pioneer producers and pioneer intermediaries, digitalization has not significantly affected the creation of new categories but has instead provided a new medium for commentary as well as commerce. Understanding how these developments affect creators, producers, and intermediaries suggests that the “old” rules, being foundational, are still applicable and should be followed by firms, creators, and consumers desirous of living in a civil society capable of rejuvenation and change.

Keywords:   globalization, digitalization, entrepreneurship

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