What can economic coordination do for creativity and well‐being?

Abstract

The scope of this paper is contributing to unveiling how economic organizing can be more humanistic by delving into ideas of well‐being and advancing them through the concepts of creativity. Accordingly, our contribution reflects on how designing and implementing organizations and processes inspired to creativity can ameliorate the life of participants. We therefore analyse issues of economic coordination through fundamental mechanisms elaborated by organizational economists (market exchange, organized hierarchies) and associate them with diverse consequences in terms of creative capacity. Illustrations are taken from the creative sectors. The creativity dimension (as an outcome) assumes especial relevance in our analysis, not only or primarily because of its potential link with competitiveness and economic prosperity (as in the current economic approach to creativity) but mostly because of the connections with the creation of a public good in the form of well‐being and value for the public.