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Creativity Economy and a Crisis of the Economy? Coevolution of Knowledge, Innovation, and Creativity, and of the Knowledge Economy and Knowledge Society

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Abstract

In this article, we define conceptually the “creativity economy” and suggest a model that interrelates creativity, knowledge, and innovation economies. The “creativity economy” surpasses earlier concepts of the “creative economy” (creative industries, creative occupations). We discuss patterns of a complex dialectic and cyclical interaction between phenomena of a crisis and creative and/or innovative activities. Economic growth stimulates investments in innovation that drive creativity and innovation, consequently resulting in further economic growth. However, at a certain level, creative and innovative activity may peak in context of the economic cycle, and the rate of economic growth could be slowing down again. If there is too much innovation, then this creates challenges in the sense of questioning the established structures, finally creating a need for developing new structures. Organizations, societies, economies, or systems can be more or less successful in doing so. There operates a coevolution between knowledge, innovation, and creativity on the one hand, and the knowledge economy and knowledge society on the other. The more advanced and mature a knowledge economy (creativity economy) and knowledge society (creativity society) are, the more knowledge, innovation, and creativity can be absorbed and are even being demanded for further progress.

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Notes

  1. The actual number of publications considering economic aspects of innovation is much higher (a simple search within the full text of databases gives approximately 25,000 papers with the words “innovation” and “economy” and over 800 papers with complete phrase of an “innovation economy”).

  2. In Chinese, crisis is 危机, danger is 危险, and opportunity is 机会.

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Acknowledgments

Some sections of the research for this article were supported by the Fulbright Program, which is funded by the Bureau of Educational and Cultural Affairs (ECA) of the U.S. Department of State, and is being administered by the Council for International Exchange of Scholars (CIES). The opinions expressed herein are the authors’ own and do not necessarily express the views of either the ECA or the CIES. Work input and textual input of David F. J. Campbell for this article was inspired by work in context of the EUROAC project (“The Academic Profession in Europe: responses to societal challenges”, CRP number “08-EuroHESC-FP-003”), awarded by the ESF (European Science Foundation), and specifically funded for Austria by the FWF (Austrian Science Fund, project number “F15I00273”). For a critical reviewing of an earlier draft version of this article we also want to thank George S. Campbell.

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Authors and Affiliations

  1. Institute of Economics, Management and Information Systems, Department of Economic Information Systems, Russian Federation, Altai State University, Barnaul, Russia

    Igor N. Dubina

  2. School of Business, Department of Information Systems and Technology Management, George Washington University, Washington, DC, USA

    Elias G. Carayannis

  3. Faculty for Interdisciplinary Studies (iff), Institute of Science Communication and Higher Education Research (WIHO), University of Klagenfurt, Klagenfurt, Austria

    David F. J. Campbell

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  1. Igor N. Dubina
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  2. Elias G. Carayannis
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  3. David F. J. Campbell
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Correspondence to David F. J. Campbell.

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Dubina, I.N., Carayannis, E.G. & Campbell, D.F.J. Creativity Economy and a Crisis of the Economy? Coevolution of Knowledge, Innovation, and Creativity, and of the Knowledge Economy and Knowledge Society. J Knowl Econ 3, 1–24 (2012). https://doi.org/10.1007/s13132-011-0042-y

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