Artivate: A Journal of Entrepreneurship in the Arts

This article argues that the current economic design of the US not-for-profit arts sector, specifically theatre, fails to support the long-term wellness of the cultural worker and the cultural commons. As a solution, we propose a global, commons-based alternative economy and complementary currency called Culture Coin that creates new wealth, abundance, and virtuous social behaviors by matching unmet needs with underutilized resources that our current economy fails to circulate. The current design of our arts economy results in generative artists being disproportionately poorer, unjust disparities in how resources are distributed, and social behaviors in the nonprofit sector that mimic for profit, commercial enterprises. The arts sector has an over-dependence on uncompensated or undercompensated “sweat equity” and volatile philanthropic funding. We detail the value and characteristics of a commons framework for entrepreneurial activity and describe internet-enabled peer production as a way to build cultural commons as well as the most effective way to collectively co-create and deploy the Culture Coin project.

An on-going academic debate occupying Entrepreneurship researchers for the past several decades is concerned with defining what an entrepreneur is and what an entrepreneur does. The debate also extends to exploring the influence different types of entrepreneurs have on their environment. In the new creative economy, entrepreneurship has become a central issue for the regeneration of urban space. This essay first differentiates between economic and cultural entrepreneurs and second explores what influence cultural entrepreneurs, especially, have on urban developments. By using Damien Hirst as exemplar for the discussion of the entrepreneurial character and spheres of action, the analysis of his career demonstrates how difficult it is in practice to draw a line between artistic, cultural and commercial activities in the creative economy. Hirst’s approach to contemporary conceptual art and his factory-like art production are both controversial and successful as defined by the author. Nevertheless, there seems to be agreement that his entrepreneurial artistic work has had a profound impact on the revitalization of East London and thus can be used as model for urban planners. The author posits that Hirst is a cultural entrepreneur based on this model for creating/regenerating viable economic urban spaces who embraces the blending of the artistic and market spheres.