I just read the R/W/Web post titled Creative Entrepreneurs: The Next Masters of the Universe. The concluding paragraph says:
A big reason that power is shifting to creative people is the reduction in inter-company friction. You can outsource pretty much everything, other than creativity. More importantly, you can use multiple smaller, specialist vendors on something close to a level playing field relationship – rather than being dependent on one big company that does everything to get you to market. When you add in millions of new knowledge workers from what we used to call the emerging markets, you have a formula that keeps the prices down and terms for these services quite reasonable.
This sounds a lot like reducing the transaction costs to me.