Economics Of Art And Culture

Over the last 30 or 40 years a substantial literature has grown up in which the tools of economic theory and analysis have been applied to problems in the arts and culture. Economists who have surveyed the field generally locate the origins of contemporary cultural economics as being in 1966, the year of publication of the first major work in modern times dedicated specifically to the economics of the arts. It was a book by Baumol and Bowen which showed that economic analysis could illuminate the supply of and demand for artistic services, the contribution of the arts sector to the economy, and the role of public policy. Following the appearance of the Baumol and Bowen work, interest in the economics of the arts grew steadily, embracing areas such as demand for the arts, the economic functions of artists, the role of the nonprofit sector, and other areas. Cultural economics also expanded to include the cultural or entertainment industries (the media, movies, the publishing industry, popular music), as well as heritage and museum management, property right questions (in particular copyright) and the role of new communication technologies such as the internet. The field is therefore located at the crossroads of several disciplines: economics and management, but also art history, art philosophy, sociology and law. The Handbook is placed firmly in economics, but it also builds bridges across these various disciplines and will thus be of interest to researchers in all these different fields, as well as to those who are engaged in cultural policy issues and the role of culture in the development of our societies. *Presents an overview of the history of art markets *Addresses the value of art and consumer behavior toward acquiring art *Examines the effect of art on economies of developed and developing countries around the world

This volume emphasizes the economic aspects of art and culture, a relatively new field that poses inherent problems for economics, with its quantitative concepts and tools. Building bridges across disciplines such as management, art history, art philosophy, sociology, and law, editors Victor Ginsburgh and David Throsby assemble chapters that yield new perspectives on the supply and demand for artistic services, the contribution of the arts sector to the economy, and the roles that public policies play. With its focus on culture rather than the arts, Ginsburgh and Throsby bring new clarity and definition to this rapidly growing area. Presents coherent summaries of major research in art and culture, a field that is inherently difficult to characterize with finance tools and concepts Offers a rigorous description that avoids common problems associated with art and culture scholarship Makes details about the economics of art and culture accessible to scholars in fields outside economics

Culture manifests itself in everything human, including the ordinary business of everyday life. Culture and art have their own value, but economic values are also constrained. Art sponsorships and subsidies suggest a value that exceeds market price. So what is the real value of culture? Unlike the usual focus on formal problems, which has 'de-cultured' and 'de-moralized' the practice of economics, this book brings together economists, philosophers, historians, political scientists and artists to try to sort out the value of culture. This is a book not only for economists and social scientists, but also for anybody actively involved in the world of the arts and culture.

This book studies the relationship between the arts and the economy. By applying economic thinking to arts and culture, it analyses markets for art and cultural goods, highlights specific facets of art auctions and discusses determinants of the economic success of artists. The author also sheds new light on various cultural areas, such as the performing and visual arts, festivals, films, museums and cultural heritage. Lastly, the book discusses cultural policies, the role of the state in financing culture, and the relationship between the arts and happiness.

Using the economic perspective, this exciting text offers an alternative view to sociological or art historic approaches to art. The issues discussed include: institutions from festivals to "superstar" museums, different means of supporting the arts, an investigation into art as an investment, and the various approaches applied when valuing our cultural properties. This text challenges widely held popular views and, once started, is difficult to put down.

The 2001 second edition of this survey of the economics of - and public policy towards - the fine arts and performing arts covers arts at federal, state, and local levels in the United States as well as the international arts sector. The work will interest academic readers in the field and scholars of the sociology of the arts, as well as general readers seeking a systematic analysis of the arts. Theoretical concepts are developed from scratch so that readers with no background in economics can follow the argument. The authors look at the arts' historical growth and then examine consumption and production of the live performing arts and the fine arts, the functioning of arts markets, the financial problems of performing arts companies and museums, and the key role of public policy. A final chapter speculates about the future of art and culture in the United States.

This book examines fundamental questions about funding for the arts: why should governments provide funding for the arts? What do the arts contribute to daily life? Do artists and their publics have a social responsibility? Challenging questionable assumptions about the state, the arts and a democratic society, Lambert Zuidervaart presents a vigorous case for government funding, based on crucial contributions the arts make to civil society. He argues that the arts contribute to democratic communication and a social economy, fostering the critical and creative dialogue that a democratic society needs. Informed by the author's experience leading a non-profit arts organisation as well as his expertise in the arts, humanities and social sciences, this book proposes an entirely new conception of the public role of art with wide-ranging implications for education, politics and cultural policy.

Non-technical analysis of how cultural industries contribute to economic growth and the policies required to ensure cultural industries will flourish.

This book explores the tensions between economic and cultural value from a range of disciplines.

Cultural Economics and Cultural Policies offers a unique guide to the state of the art in cultural economics. First, it alerts scholars and students to the necessity for careful definition and measurement of the `cultural sector'. Second, it affords examples of how economic analysis can shed light on the motivation of creative and performing artists and of artistic enterprises. Third, Cultural Economics and Cultural Policies widens the discussion of public policy towards the arts beyond general economic appraisal of arguments for government financial support. It does so by considering the government's role in defining property rights in artistic products and in regulating as well as financing the arts; examining how the criteria for government support are actually applied. Cultural Economics and Cultural Policies will be of interest to economists, students and policy makers.