Mutation of Capital in the Information Age : Insights from the Music Industry

Lugović, Sergej and Špiranec, Sonja. (2013). Mutation of Capital in the Information Age : Insights from the Music Industry. In: 4th International Conference "The Future of Information Sciences: INFuture2013 – Information Governance", 6-8 November 2013, Zagreb.

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Abstract

The question this paper addresses is whether more variety in meaning of capital could increase the value of capital as one of the factors of production. Methodology used is based on observation, and in this stage of research of this phenomenon we believe that detailed observations are needed with aim to provide enough qualitative data for further development of qualitative methods. Based on a case study from the music industry, the authors have tried to determine whether the extensive use of technology, relationship, knowledge and emotions can be used as a resource for value production in today‘s economy? These four factors, under complex system analyses of their relationship, could provide enough variety to respond to increasing variety (diversity) developed in music industry environment. In the first part of the paper the on-going rise of importance of intangible values and their relationship with tangible one is discussed. After that, value theories are observed and their relationship to information science is being examined. In the last section, the authors will assert that increasing complexity, coupled (combined/conjoined) with faster changes in the music industry should directly be related to the development of new factors of production used to generate value which can be exchanged on the market. The proposed changes will be tested on a case study.

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