Concept of "creative economy"
The term “creative economy” appeared in 2001 in John Howkins’ book about the relationship between creativity and economics. For Howkins, “creativity is not new and neither is economics, but what is new is the nature and the extent of the relationship between them and how they combine to create extraordinary value and wealth”. Howkins’ use of the term “creative economy” is broad, covering fifteen creative industries extending from arts to the wider fields of science and technology.
According to his estimates, in the year 2000, the creative economy was worth $2.2 trillion worldwide, and it was growing at 5 per cent annually. For Howkins, there are two kinds of creativity: the kind that relates to people’s fulfilment as individuals and the kind that generates a product. The first one is a universal characteristic of humanity and is found in all societies and cultures. The second is stronger in industrial societies, which put a higher value on novelty, on science and technological innovation, and on intellectual property rights (IPRs). There is no unique definition of the “creative economy”. It is a subjective concept that is still being shaped.
Source - United Nation Creative Economy Report 2008
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