By Bruno S. Frey
To positioned the humanities & ECONOMICS subsequent to one another, as within the name to this ebook, could be surprising to a few readers. must never inventive artwork be freed from fiscal constraints, needs to it now not lead a lifetime of its personal? And is economics now not the area of suggest advertisement dealings? This ebook argues that it's not so: the humanities & ECONOMICS move good jointly, certainly desire one another. with no sound financial base, paintings can't exist, and with out creativity the financial system can't flourish. there's a moment manner within which the humanities and Economics move jointly, specifically within the experience of using financial pondering to the humanities. over the past a long time, this scholarly pastime has been proven below the identify of "The Economics of paintings" or "Cultural Economics". yet this can additionally sound revolting to a few readers because it indicates an imperialistic extension of a lowly benefit-cost calculus to the realm of artwork. This worry is unwarranted. to the contrary, cultural economists pressure the social price of artwork and shield it opposed to a crude company view of artwork. instead of disregarding artwork with no direct advertisement revenue, artwork economists search methods and technique of assisting it. This e-book isn't really a textbook summarizing the achievements attained by means of the economics of paintings. Such books exist already, between them the author's personal, Muses and Markets, Explorations within the Economics of artwork, written together with Werner Pommerehne. VI Preface ARTS & ECONOMICS charters little recognized territories.
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Additional resources for Arts & Economics: Analysis & Cultural Policy
Most individuals in the performing arts work in a unit such as a theater company, in a corps de ballet or in a circus. But there are, of course, independent performers also in this area of art. Art organizations are also very important in the case of all kinds of museums. In economics, art organizations are not treated as collective entities with a life and behavior of their own. Rather they are the result of individual action. 4 Equilibrium Between Demand and Supply 29 Institutional conditions strongly determine to what extent an organization is free to call itself "artistic" or "cultural".
The high realms of "art" will be set against a lowly "commercialization". It has been made clear that such opposition is not surprising because any change in the existing situation threatens existing interests (see also ch. 6). Artists, however, are not necessarily against the viewpoints submitted here. Painters, especially, are often well aware of the crucial role of the art market and particularly of private galleries for the propagation of their products. Indeed, from the economic perspective, private galleries are "speculators" in the sense that they invest in unknown artists in order to profit when they get famous.
But there are, of course, independent performers also in this area of art. Art organizations are also very important in the case of all kinds of museums. In economics, art organizations are not treated as collective entities with a life and behavior of their own. Rather they are the result of individual action. 4 Equilibrium Between Demand and Supply 29 Institutional conditions strongly determine to what extent an organization is free to call itself "artistic" or "cultural". g. it may even be used for purely pornographic performances).