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This book offers a new look at physiocracy, a branch of economic thought whose most prolific and staunchest advocate was Du Pont. Physiocracy was characterized chiefly by the beliefs that land (natural resources) is the source of all wealth and that government policy should not interfere.
This book explores the organization of creative industries, including the visual and performing arts, movies, theater, sound recordings, and book publishing. In each, artistic inputs are combined with other, "humdrum" inputs. But the deals that bring these inputs together are inherently problematic: artists have 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 organized, some employing creative personnel on long-term contracts, others dealing with them as outside contractors; agents emerge as intermediaries, negotiating contracts and matching...
A reassessment of the Scottish Enlightenment's remarkable contribution to modern economics and theories of capitalism.