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The Economics Of The Arts (Hardcover)
Loot Price: R4,486
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The Economics Of The Arts (Hardcover)
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The economics of the Arts is a new field with a small but
rapidly-growing literature, which has emerged in recent years out
of the eagerness of economists to apply their techniques to
hitherto untried areas and the recognition by Arts administrators
of the rapidly increasing economic pressures on the Arts. This book
of readings is the first of its kind. Of the 16 articles, 8 are
directly concerned with the Arts in America; the other 8 deal with
the British scene. What can economics say about so non-economic a
subject as the Arts? Obviously, finance for the Arts involves
economic considerations. But in addition, economics provides, among
other things, a logic of rational choice, and the economists' style
of thinking, therefore, is adaptable to any problem of choice in
respect of any set of goals, whether they be economic goals or not.
Then, there is the question of whether economics can provide a case
for public support for the Arts, that is, whether the State should
subsidize the Arts. This is a familiar problem in the economics of
welfare but its application to the Arts raises novel questions and
even economists are not agreed on whether economics can provide
such a rationale. Also, there is the question of criteria for
public expenditure on the Arts, assuming that the case for some
public expenditure has been made. Can economists tell us how much
the State should spend on the Arts? Surely, they can help us with a
host of other questions: should museums and galleries charge fees;
should museums ever sell off parts of their collections; can the
Arts economize on their expenditures; how can modern music be most
effectively encouraged by public funds; are ticket prices an
important element in the demand for the Arts; and does the low pay
of artists discourage individuals from taking up artistic
occupations?
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