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By documenting a wide range of commercial interactions across the creative industries, this comprehensive and immensely readable book shows persuasively that economic theory can help us understand the sheer business of making art happen. -- David Throsby Times Literary Supplement [Caves] uses contract and industrial-organization theory to throw light on how and why the industries producing cultural goods and services--from literature to film, from rock music to opera--work as they do...Caves does not engage issues of ideology, nor of the political or economic importance of the arts, but simply sees the creative industries as fascinating areas of economic activity which have been largely neglected by economists...By documenting a wide range of commercial interactions across the creative industries, this comprehensive and immensely readable book shows persuasively that economic theory can help us understand the sheer business of making art happen. -- David Throsby Times Literary Supplement 20001215 Creative Industries explores the economics of the arts in exacting detail. With great skill and originality, Caves has analysed the economic forces operating in music, book publishing, painting, the theatre and movies. -- Winston Fletcher Times Higher Education Supplement 20010504 Caves presents an excellent and readable discussion of the economics and organization of the creative arts industry Using an enormous amount of qualitative information, Caves combines the theory of contracts (a new development) with the economics of industrial organization to explain institutional arrangements (the contractual strategies of the market mediators) between artists (authors, actors, performers) and consumers. -- R. A. Miller CHOICE
Product Description
This text explores the organisation of creative industries, including the visual and performing arts, movies, theatre, sound recordings, and book publishing. In each, artistic inputs are combined with other, "hundrum" inputs. But the deals that bring these inputs together are inherently problematic artists have a strong views; the muse whispers erratically, and consumer approval remains highly uncertain until all costs have been incurred. To assemble, distribute, and store creative products, business firms are organised, some employing creative personnel on long-term contracts, others dealing with them as outside contractors; agents emerge as intermediaries, negotiating contracts and matching creative talents with employers. Firms in creative industries are either small-scale pickers that concentrate on the selection and development of new creative talents or large-scale promoters that undertake the packaging and widespread distribution of established creative goods. In some activities, such as the performing arts, creative ventures facing high fixed costs turn to non-profit firms. To explain the logic of these arrangements, the author draws on the analytical resources of industrial economics and the theory of contracts. He addresses the winner-take-all character of many creative activities that brings wealth and renown to some artists while dooming others to frustration; why the "option" form of contract is so prevalent; and why even savvy producers get sucked into making "ten-ton turkeys" such as "Heaven's Gate". However different their superficial organisation and aesthetic properties, whether high or low in cultural ranking, creative industries share the same underlying organisational logic.
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2 reviews
6 of 7 people found the following review helpful
The underlying economic principles for many industries
12 Jan 2007
Format:Paperback
Dozens of books on entertainment industries come out every year, but only few survive the test of time. This is one of them, and not precisely for the encyclopedic amount of information and references it presents (you can actually get many more references by sending an email to the author), or for its practical value --which in my opinion is high. The value of this book boils down to its elegant treatment of the economic logic behind seemingly unrelated businesses like moviemaking or ballet. The chapter on contracts for creative products is truly illuminating.
The author provides upfront the seven basic economic principles that affect all creative industries:
1. Demand is uncertain
2. Creative workers care about their product
3. Some creative products require diverse skills
4. Differentiated products.
5, 6, 7: read them yourself.
While everybody in the entertainment world might have their own list, this one is written and carefully developed by Richard Caves.
The format might be intimidating to some (e.g., no pictures, no tables, no flashy stuff), so don't buy it if you are not willing to invest a little time and brains to profit from the author's reasoning.
The author provides upfront the seven basic economic principles that affect all creative industries:
1. Demand is uncertain
2. Creative workers care about their product
3. Some creative products require diverse skills
4. Differentiated products.
5, 6, 7: read them yourself.
While everybody in the entertainment world might have their own list, this one is written and carefully developed by Richard Caves.
The format might be intimidating to some (e.g., no pictures, no tables, no flashy stuff), so don't buy it if you are not willing to invest a little time and brains to profit from the author's reasoning.
4 of 8 people found the following review helpful
Okay for a look-see, but maybe not a great buy, per se.
3 Jan 2007
Format:Paperback|Amazon Verified Purchase
Upon the suggestion of a very famous academic I purchased this text. This book is written by a famous Harvard economist, and I now know how much these highly esteemed professors can get away with. If you are looking for middle of the road quotes and want a new source for them, this book will easily do the trick. If you are seeking out a illuminating cover to cover text dealing with either Creative Industries or flat out Economics this book may leave you flat.
In all honesty, I did not complete this text and there is a strong likelihood that I never will. This is not to say it is without merits entirely (please note that I did give it 3 stars). It is just that the book very long and lacks an intimate feel of solidarity with either the artistic side or the commerce dealers. It covers a lot of ground, and I do believe that my wallet would have been better served if I had just spent an afternoon at the local University library thumbing the text and xeroxing what I deemed relevant.
In all honesty, I did not complete this text and there is a strong likelihood that I never will. This is not to say it is without merits entirely (please note that I did give it 3 stars). It is just that the book very long and lacks an intimate feel of solidarity with either the artistic side or the commerce dealers. It covers a lot of ground, and I do believe that my wallet would have been better served if I had just spent an afternoon at the local University library thumbing the text and xeroxing what I deemed relevant.
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