A Textbook of Cultural Economics by Ruth Towse

By Ruth Towse

What determines the associated fee 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 top cultural economists indicates how we will use the theories and strategies of economics to respond to those and a bunch of different questions about the arts (performing arts, visible arts, and literature), historical past (museums and outfitted background) and inventive industries (the song, publishing, and picture industries, broadcasting). utilizing foreign examples and overlaying the main up to date learn, the e-book doesn't imagine a previous wisdom of economics. it's perfect 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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One of the problems that digitalisation has given rise to is that many ‘information goods’ are effectively public goods once they are available on the internet, and property rights, mostly copyright, cannot be protected easily. Because of these features, public goods are mostly produced collectively, often by the government but also by non-profit organisations. Some properties of the arts and culture are true public goods in the economic sense, such as shared history, cultural heritage and language, but far and away the majority of goods and services in the cultural sector are not public goods; they are rival (the more for you, the less for me) and access to them can be limited to those who have paid an entry charge or subscription (they are excludable).

This is also the case when private cultural organisations get subsidies from public sources. Much of this book is devoted to the public finance of the arts and culture and to the economic aspects of cultural policy that determine how public expenditure is allocated (see below and chapters 7 and 10). One area in which ownership has been very important is in the media industries – broadcasting and the press. Television and radio originated in public ownership in many countries but have now been privatised.

Chapter 19 of this book looks at the economic literature on these topics. A brief history of cultural economics What we now call cultural economics started life as the economics of the arts, and in recognition of that some authors still use the term ‘economics of the arts (or art) and culture’. The first systematic work that stimulated the birth of cultural economics was that by William Baumol and William Bowen on the performing arts. Baumol and Bowen’s book Performing Arts: The Economic Dilemma The origin of present-day cultural economics is widely held to be the publication in 1966 of Baumol and Bowen’s book Performing Arts: The Economic Dilemma.

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