![Sample our Economics, Finance,Business & Industry journals, sign in here to start your access, latest two full volumes FREE to you for 14 days]({"type":"image" , "src" : "/sda/5931/TOC-Subject-Sample-2021-Economics-Finance-Business-Industry.jpg"})
Abstract
Social economics has long been concerned with the effects on human societies of market-coordinated processes of economic innovation. But the social economy also causes invention and innovation, an aspect that has received less attention. This article reviews three new approaches to the study of the growth of knowledge in economic systems as driven expressly by sociocultural mechanisms and dynamics. The first are so-called “social network markets” and “novelty bundling markets”. The second extends from “knowledge commons” to “innovation commons”. The third is a sociocultural semiotic process of group dynamics. These models represent different ways the social economy generates newness and produces innovation.
Disclosure statement
No potential conflict of interest was reported by the authors.
Additional information
Notes on contributors
Jason Potts
Jason Potts is Professor of Economics at RMIT University in Melbourne. His main research interests are early stage innovation and evolutionary economics, along with applications to culture, creative industries and sport. He has written five books on these topics.
John Hartley
John Hartley is Professor of Cultural Science and Director of the Centre for Culture and Technology at Curtin University in Western Australia, and Professor of Journalism, Media and Cultural Studies at Cardiff University. He has published over twenty books about communication, journalism, media and cultural studies, many of which have been translated into other languages.