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 conceptsOffers a rigorous description that avoids common problems associated with art and culture scholarshipMakes details about the economics of art and culture accessible to scholars in fields outside economics

Much recent discussion surrounding valuation of the arts and culture, particularly in the policy arena, has been dominated by a concern to identify an economic and financial basis for valuation of art works, arts, activities and more general ways in which we express our culture. Whereas a great deal can be gained from a fuller understanding of the economic value of art, there is a real danger that financial considerations will tend to crowd out all other aspects of value. This book moves beyond the limitations implicit in a narrow economic approach, bringing different disciplinary viewpoints together, opening up a dialogue between scholars about the processes of valuation that they use and exploring differences and identifying common ground between the various viewpoints. The book's common theme - the tension between economic and cultural modes of evaluation - unites the chapters, making it a coherent and unified volume that provides a new and unique perspective on how we value art.

This book brings together two very disparate areas, economics and culture, considering both the economic aspects of cultural activity, and the cultural context of economics and economic behavior. The author discusses how cultural goods are valued in both economic and cultural terms, and introduces the concepts of cultural capital and sustainability. The book goes on to discuss the economics of creativity in the production of cultural goods and services; culture in economic development; the cultural industries; and cultural policy. An important topic analyzed in a stimulating and nontechnical style.

Much recent discussion surrounding valuation of the arts and culture, particularly in the policy arena, has been dominated by a concern to identify an economic and financial basis for valuation of art works, arts, activities and more general ways in which we express our culture. Whereas a great deal can be gained from a fuller understanding of the economic value of art, there is a real danger that financial considerations will tend to crowd out all other aspects of value. This book moves beyond the limitations implicit in a narrow economic approach, bringing different disciplinary viewpoints together, opening up a dialogue between scholars about the processes of valuation that they use and exploring differences and identifying common ground between the various viewpoints. The book's common theme - the tension between economic and cultural modes of evaluation - unites the chapters, making it a coherent and unified volume that provides a new and unique perspective on how we value art.

Cultural policy is changing. Traditionally, cultural policies have been concerned with providing financial support for the arts, for cultural heritage and for institutions such as museums and galleries. In recent years, around the world, interest has grown in the creative industries as a source of innovation and economic dynamism. This book argues that an understanding of the nature of both the economic and the cultural value created by the cultural sector is essential to good policy-making. The book is the first comprehensive account of the application of economic theory and analysis to the broad field of cultural policy. It deals with general principles of policy-making in the cultural arena as seen from an economic point of view, and goes on to examine a range of specific cultural policy areas, including the arts, heritage, the cultural industries, urban development, tourism, education, trade, cultural diversity, economic development, intellectual property and cultural statistics.

Cultural policy is changing. Traditionally, cultural policies have been concerned with providing financial support for the arts, for cultural heritage and for institutions such as museums and galleries. In recent years, around the world, interest has grown in the creative industries as a source of innovation and economic dynamism. This book argues that an understanding of the nature of both the economic and the cultural value created by the cultural sector is essential to good policy-making. The book is the first comprehensive account of the application of economic theory and analysis to the broad field of cultural policy. It deals with general principles of policy-making in the cultural arena as seen from an economic point of view, and goes on to examine a range of specific cultural policy areas, including the arts, heritage, the cultural industries, urban development, tourism, education, trade, cultural diversity, economic development, intellectual property and cultural statistics.

This book brings together two very disparate areas, economics and culture, considering both the economic aspects of cultural activity, and the cultural context of economics and economic behavior. The author discusses how cultural goods are valued in both economic and cultural terms, and introduces the concepts of cultural capital and sustainability. The book goes on to discuss the economics of creativity in the production of cultural goods and services; culture in economic development; the cultural industries; and cultural policy. An important topic analyzed in a stimulating and nontechnical style.