Cover of Culture and Commerce by Mukti Khaire
Culture and Commerce
The Value of Entrepreneurship in Creative Industries
Mukti Khaire

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June 2017
280 pages.
$65.00
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Cloth ISBN: 9780804792219

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Art and business are often described as worlds apart, even diametric opposites. And yet, these realms are close cousins in creative industries where firms bring cultural goods to market, attaching price tags to music, paintings, theater, literature, film, and fashion.

Building on theories of value construction and cultural production, Culture and Commerce details the processes by which artistic worth is decoded, translated, and converted to economic value. Mukti Khaire introduces readers to three industry players: creators, producers (who bring to market and distribute cultural goods), and intermediaries (who critique and rave about them). Case studies of firms from Chanel and Penguin to tastemakers like the Pritzker Prize and The Sundance Institute illuminate how these professionals construct a vital value chain. Highlighting the role of "pioneer entrepreneurs"—who carve out space for radical, new product categories—Khaire illustrates how creative professionals influence our sense of value, shifting consumer behavior and our culture in deep, surprising ways.

About the author

Mukti Khaire is the Girish and Jaidev Reddy Professor of Practice at Cornell Tech and the Cornell SC Johnson College of Business.

"Mukti Khaire's study illuminates how culture and commerce interact while it analyzes the ways that entrepreneurship—a word frequently misused in the creative industries—enables positive social change. An invaluable tool for artists, managers, producers—anyone who works in or with the creative sector."

——Ravi Rajan, President, California Institute of the Arts (CalArts)

"Full of fascinating cases that span art, food, and fashion, this book teaches us how creative industries tick. With measured analysis, Khaire lucidly lays bare the cultural value chain, demonstrating how entrepreneurship thrives—even in the notoriously unpredictable realm of art."

—Ashley Mears, Boston University, author of Pricing Beauty: The Making of a Fashion Model

"Culture and Commerce speaks in particular to the field's interest in 'valuation' and the role of 'market intermediaries' in creative industries. Khaire gives us profound insight into these markets—their particularities, structures, dynamics, and processes."

—Jesper Strandgaard, Copenhagen Business School, co-editor of Negotiating Values in the Creative Industries

"In this wonderful and intellectually ambitious book, Mukti Khaire re-thinks culture at the intersection of economics and sociology. With carefully instantiated case studies, she leavens our understanding of how art and culture have worked, should work, and will work."

—Rohit Deshpande, Harvard Business School

"This remarkable book bridges the gap between art and business. It lucidly and convincingly reveals the structure and functioning of creativity in the marketplace. Probing key notions like artistic value, innovation, and circulation, Khaire throws light on how novelty is accepted and made intelligible."

—Diana Sorensen, Harvard University