New Yorker tackles the economics of the culture industry

Oct 19, 2007

In his "Financial Page" column in the New Yorker, James Surowiecki writes about the new book The Warhol Economy. Surowiecki agrees with the author, Elizabeth Currid, that conventional thinking underestimates the importance of creative industries to New York City's economy. From the article: "Globalization and the Internet . . . were supposed to usher in an age in which people could live and work wherever they wanted. So why, more than ever, do people in the culture industry all want to live in New York?" The conclusion is that "clustering" and a "network effect" are key: people need to find each other to find work, and having a strong network helps. If you work in a creative industry, do you find this to be true?  Does technology enable you to work remotely from your clients and collaborators?  Or does geography still matter?