orgtheory.net

book spotlight: culture and commerce by mukti khaire

khaire_book

A very,  very long time ago, Mukti Khaire was a guest blogger at orgtheory. Since then, she’s been a successful management researcher at the Harvard Business School and Cornell Tech. It is thus a great pleasure for me to read her new book Culture and Commerce: The Value of Entrepreneurship in Creative Industries. The book is a contribution to both the study of art markets and the study of entrepreneurship. The book’s premise is that art and business exist in a sort of fundamental tension. Khaire’s goal is to offer an account of what entrepreneurship means in the world of artistic markets.

The key element of Khaire’s theory is that artistic goods are not only introduced by entrepreneurs, but entrepreneurs do a lot of work to reshape markets so they can accept radically new categories of goods. For example, getting people to accept high quality, but expensive, produce is the work that Whole Foods did in the grocery market about twenty years ago. Such people, who reshape old markets into new markets, Khaire calls “pioneer entrepreneurs.” Similarly, Khaire identifies people who add value because of their ability to provide commentary to products that need explanation.

The strong point of Culture and Commerce is that Khaire digs deeper into the production chain of artistic goods. There are market actors who specialize in bringing in the new products, those who specialize in educating the audience, and those who add quality signals (e.g., giving awards). It’s a very rich account of entrepreneurship that many blog reader will enjoy. Recommended!

50+ chapters of grad skool advice goodness: Grad Skool Rulz ($4.44 – cheap!!!!)/Theory for the Working Sociologist (discount code: ROJAS – 30% off!!)/From Black Power/Party in the Street / Read Contexts Magazine– It’s Awesome!

 

Written by fabiorojas

November 28, 2017 at 5:08 am

%d bloggers like this: