Art and Value is the first comprehensive analysis of art's
political economy throughout classical, neoclassical and Marxist
economics. It provides a critical-historical survey of the theories
of art's economic exceptionalism, of art as a merit good, and of
the theories of art's commodification, the culture industry and
real subsumption. Key debates on the economics of art are examined
in detail. Subjecting mainstream and Marxist theories of art's
economics to an exacting critique, Art and Value concludes with a
new Marxist theory of art's economic exceptionalism.
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