By Ruth Towse
What determines the cost drop of a pop live performance or an opera? Why does Hollywood dominate the movie undefined? Does unlawful downloading harm the checklist undefined? Does unfastened access to museums carry extra viewers? In A Textbook of Cultural Economics, one of many world's prime cultural economists indicates how we will use the theories and techniques of economics to reply to those and a number of alternative questions about the arts (performing arts, visible arts, and literature), historical past (museums and equipped history) and inventive industries (the tune, publishing, and movie industries, broadcasting). utilizing overseas examples and masking the main updated examine, the publication doesn't imagine a previous wisdom of economics. it's excellent for college kids taking a path at the economics of arts as a part of an arts management, enterprise, administration, or economics measure.
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Extra info for A Textbook of Cultural Economics
This can explain some otherwise seemingly anomalous behaviour: for example, public museums all over Europe close on Mondays to suit the needs of the employees rather than those of visitors. An interesting contrast is the privately owned Royal Academy of Arts in London, which stayed open throughout the night during its extremely popular Monet exhibition a few years ago. 32 General issues in cultural economics Summary This section has shown that ownership and control are likely to shape the proﬁle of the cultural sector; typically, both public and private enterprises and for-proﬁt and non-proﬁt organisations coexist in a ‘mixed’ economy.
William Stanley Jevons The ﬁrst recognition of the ‘public goods’ aspects of the arts seems to have been by the nineteenth-century British economist Jevons (1835–82), who saw the need for open-air musical concerts alongside a number of other public works and for the public provision of public libraries. He advocated state ﬁnance of the performing arts and libraries as a kind of social investment, on the grounds that it would amply be repaid over the years by the reduction of the number of the poor receiving the ‘dole’ and by a reduction in crime.
Adam Smith Smith (1723–90), author of the Wealth of Nations, published in 1776, is held to be the founder of modern economics; he wrote at a time in which the private market for the performing arts and creative arts was ﬂourishing, and he saw no reason for intervention by the state (in fact, he deplored the 13 Introduction to cultural economics licensing of theatres and censorship). He lived at the time of the founding of two cultural institutions: the British Museum, in 1753, ﬁnanced by a private lottery to house a private collection from the estate of Sir Hans Sloane that the English parliament had unwillingly purchased; and the Royal Academy, in 1768, ﬁnanced by a loan from the king (which had to be repaid).
A Textbook of Cultural Economics by Ruth Towse