Reflecting on Challenges and Opportunities: Examining the Colour Economy of Innovation and Entrepreneurship

¹ Departamento de Negocios y Finanzas, Universidad de Guanajuato, Mexico.
² CETYS Universidad, Instituo Innsignia Mexico.

Abstract

Nearly a quarter of a century has passed, and current socio-economic and cultural conditions necessitate new approaches to conceptualizing Economics. The framework of Colour Economics offers an opportunity to transcend paradigms. In contrast to prevailing economic thought, a vibrant spectrum of colours emerges. Through an in-depth analysis of the 15th RIDIT Conference proceedings, this study explores how various chromatic dimensions— from green, symbolizing environmental consciousness, to orange, representing creativity, yellow, denoting technological efficiency, and purple, associated with social inclusion—interact and occasionally conflict, providing a novel interpretation of development.

Our post-proceedings analysis reveals that economies of colour are not isolated but instead blend and adapt in contexts of resource scarcity and innovation. Three notable patterns emerge: informal sectors naturally create complex combinations of these economic hues, geographic and cultural contexts significantly influence how these colours interact, and undergo transformations as they flow across distinct economic domains.

These findings challenge traditional theoretical frameworks. Economies of colour must be understood in a fluid manner, particularly in developing communities, where necessity fosters innovation and entrepreneurship. The implications are far-reaching, influencing public policy and institutional structures, thus urging a reconsideration of how to foster and study innovation in an increasingly diverse economic landscape.