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Cultural Capital

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  • David Throsby

Abstract

Economists traditionally distinguish between three forms of capital: physical capital, human capital and natural capital. This paper proposes a fourth type of capital, cultural capital. An item of cultural capital is defined as an asset embodying cultural value. The paper considers usage of the term “cultural capital” in other discourses, notably sociology after Bourdieu, and contrasts these with the proposed usage in economics. The relationship between cultural and economic value, upon which the economic concept of cultural capital relies, is explored, and the possible implications of cultural capital for economic analysis discussed, including issues of growth, sustainability and investment appraisal. The paper concludes with some suggestions for further theoretical and empirical research. Copyright Kluwer Academic Publishers 1999

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File URL: http://hdl.handle.net/10.1023/A:1007543313370
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Bibliographic Info

Article provided by Springer in its journal Journal of Cultural Economics.

Volume (Year): 23 (1999)
Issue (Month): 1 (March)
Pages: 3-12

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Handle: RePEc:kap:jculte:v:23:y:1999:i:1:p:3-12

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Web page: http://www.springerlink.com/link.asp?id=100284

Related research

Keywords: cultural capital; cultural economics; economic growth; natural capital; sustainability;

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  1. Barry R. Chiswick, 1983. "The Earnings and Human Capital of American Jews," Journal of Human Resources, University of Wisconsin Press, vol. 18(3), pages 313-336.
  2. Berkes, Fikret & Folke, Carl, 1992. "A systems perspective on the interrelations between natural, human-made and cultural capital," Ecological Economics, Elsevier, vol. 5(1), pages 1-8, March.
  3. Solow, Robert, 1993. "An almost practical step toward sustainability," Resources Policy, Elsevier, vol. 19(3), pages 162-172, September.
  4. Gray, H. Peter, 1996. "Culture and Economic Performance: Policy as an Intervening Variable," Journal of Comparative Economics, Elsevier, vol. 23(3), pages 278-291, December.
  5. Casson Mark, 1993. "Cultural Determinants of Economic Performance," Journal of Comparative Economics, Elsevier, vol. 17(2), pages 418-442, June.
  6. Stephen A. Woodbury, 1993. "Culture and Human Capital: Theory and Evidence or Theory Versus Evidence?," Book chapters authored by Upjohn Institute researchers, in: William Darity Jr. (ed.), Labor Economics: Problems Analyzing Labor Markets, pages 239-267 W.E. Upjohn Institute for Employment Research.
  7. Hicks, John R, 1974. "Capital Controversies: Ancient and Modern," American Economic Review, American Economic Association, vol. 64(2), pages 307-16, May.
  8. Becker, Gary S., 1994. "Human Capital," University of Chicago Press Economics Books, University of Chicago Press, edition 3, number 9780226041209, June.
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