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Economic arguments for public support of arts and culture

In: Teaching Cultural Economics

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  • Trine Bille

Abstract

In most countries, parts of the cultural sector is subsidized by public means to a greater or lesser extent, especially museums, libraries and the performing arts. This chapter discusses different arguments from economic theory for public support of arts and culture. The chapter is based on welfare economics, where the main arguments for public intervention are ‘market failure’ like public goods and externalities. The chapter shows how these concepts can be applied to the cultural sector and discusses the issues of efficiency and equity.

Suggested Citation

  • Trine Bille, 2020. "Economic arguments for public support of arts and culture," Chapters, in: Trine Bille & Anna Mignosa & Ruth Towse (ed.), Teaching Cultural Economics, chapter 7, pages 42-50, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:18414_7
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    Keywords

    Economics and Finance; Teaching Methods;

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