A Holistic Review for Inspiration Economy Framework Constructs

Abstract

As the world is trying to discover what the shape of the much-needed next economy and socio-economy will be, this study attempts to explore the possibility of a framework that would address holistically the different inspiration economy driven constructs that have already been presented by researchers and authors. With the development of humanity and the fast pace of a knowledge-based economy, inspiration is becoming an ever more essential factor for the development of any socio-economy.

The study of the inspiration economy framework by the knowledge community is still in its infancy, especially if the need for deeper work, as explored in the work of Thrash and Elliot (2010, 2004, 2003) and the Handbook of Inspiration Economy by Buheji and Thomas (2016), are acknowledged. A review of the literature shows that the body of knowledge has not so far established a robust theoretical framework that will guide researchers from a holistic perspective and demonstrate how the inspiration economy can be approached by researchers.

This study aims to address a general question: how the inspiration economy can be approached by researchers. In seeking an answer to this question, the paper has two objectives: 1) to review how researchers are seeing the constructs of the inspiration economy framework, taking into account the available literature; 2) to develop recommendations about the research that would contribute towards unleashing the constructs of the coming inspiration economy. Finally, a set of conclusions is presented. This offers a better understanding of the inspiration economy with the aim of improving future research that would, in turn, enhance both discussions on and knowledge of the subject.