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Title: Digitization and its Consequences for Creative-Industry Product and Labor Markets

Citation Type: Book, Section

Publication Year: 2022

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Abstract: Digitization has transformed many of the creative industries. Technological changes have sharply reduced the costs of creating, distributing, and promoting new products, with two broad consequences. First, there has been an explosion of new products – in movies, books, music, and television – with substantial welfare benefit for consumers. Second, because technological change has reduced the need for physical or financial capital for undertaking investment in new products, it has enabled individuals to bring new products to market largely by supplying their own labor to entrepreneurial creative projects. In this chapter I explore consequences of digitization for both consumers via the product market as well as entrepreneurial producers via their labor market activity.

Url: https://www.nber.org/chapters/c14377

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Authors: Waldfogel, Joel

Editors: Andrews, Michael J; Chatterji, Aaron; Lerner, Josh; Stern, Scott

Pages: 41

Volume Title: THE ROLE OF INNOVATION AND ENTREPRENEURSHIP IN ECONOMIC GROWTH

Publisher: University of Chicago Press

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Data Collections: IPUMS USA

Topics: Labor Force and Occupational Structure, Other

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