Three Tales of Capitalism and Creative Economy

Abstract

 The aim is to examine how the creative economy develops in shareholder, state, and stakeholder capitalism. In the shareholder capitalism, the creative economy is headed by large companies in cooperation with governments, which replicate pregiven formulas of governance with no consideration of local specificities, and reinforces the exclusion of small and medium-sized creative enterprises. The state capitalism has the government authorities as the main drivers of the creative economy’s growth, which is usually connected to their political interest in preserving authority and manipulating the population. In the stakeholder capitalism, companies should pay their fair share of taxes, show zero tolerance for corruption, uphold human rights throughout their global supply chains, and advocate for a competitive level playing field. These elements create the specific conditions for a more diversified set of actors leading the initiatives dedicated to the development of creative