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Cultural centers in new economy and subsidies - Essay Example

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In recent times, the term 'New Economy' has emerged. It is defined as the world in which individuals work on basis of their intelligence and mind, communication technology is responsible for controlling market, innovation is the key to survival and investment has the power and authority to acquire or devise new concepts. This description on the term demonstrates three essential things: advanced communication technology has revolutionized the business world, globalization has opened wider doors for economic development and individual skills and creativity are the important tools for individuals, in order to compete in the new economy. Keeping this definition in mind, the new economic culture has also changed the cultural centers. This paper seeks to analyze the cultural centers of new economy in the lights of broad and diverse academic resources.Research suggests that information technology and globalization are the two dominant and influential factors which have changed the entire economy (Carnoy, 297). Before the advent of new economy, museums, galleries and cultural centers were popular because they were the wellsprings of art and creativity. However, in recent times, these institutions have become abandoned, because creative art and work is now being displayed online (Reich, 159). In current times, museums are devising strategies and plans to display their collections online and increasing their production in order to ensure that their customers get to see new and innovative things

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In recent times, the term 'New Economy' has emerged. It is defined as the world in which individuals work on basis of their intelligence and mind, communication technology is responsible for controlling market, innovation is the key to survival and investment has the power and authority to acquire or devise new concepts…
Cultural centers in new economy and subsidies
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