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The Economics of Creativity - Art and Achievement under Uncertainty (Hardcover)
Loot Price: R1,887
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The Economics of Creativity - Art and Achievement under Uncertainty (Hardcover)
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Creative work has been celebrated as the highest form of
achievement since at least Aristotle. But our understanding of the
dynamics and market for creative work--artistic work in
particular--often relies on unexamined cliches about individual
genius, industrial engineering of talent, and the fickleness of
fashion. Pierre-Michel Menger approaches the subject with new
rigor, drawing on sociology, economics, and philosophy to build on
the central insight that, unlike the work most of us do most of the
time, creative work is governed by uncertainty. Without
uncertainty, neither self-realization nor creative innovation is
possible. And without techniques for managing uncertainty, neither
careers nor profitable ventures would surface. In the absence of
clear paths to success, an oversupply of artists and artworks
generates boundless differentiation and competition. How can
artists, customers, entrepreneurs, and critics judge merit? Menger
disputes the notion that artistic success depends solely on good
connections or influential managers and patrons. Talent matters.
But the disparity between superstardom and obscurity may hinge
initially on minor gaps in intrinsic ability. The benefits of early
promise in competition and the tendency of elite professionals to
team up with one another amplify and disproportionately reward even
small differences. Menger applies his temporal and causal analysis
of behavior under uncertainty to the careers and oeuvres of
Beethoven and Rodin. The result is a thought-provoking book that
brings clarity to our understanding of a world widely seen as
either irrational or so free of standards that only power and
manipulation count.
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