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The article is based upon the critical analysis of numerous viewpoints of many authors on the essence and scope of the term “creative economy”; it reveals and describes specialties of socio-economic development of economic system of society at the stage of formation of new information and innovation based method of consumption and production. The article provides the authors’ essence and scope concept of “creative economy”, specific traits of creative economy (innovativeness, flexibility, responsiveness, unconventional character, globalization, creative thinking, creative projection, multi-direction of social-economic development, etc.)

Essence, Place and Role of Creative Economy in Innovation Development Paradigm