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On the Sustainability of Cultural Capital

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Author Info
David Throsby () (Department of Economics, Macquarie University)

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Abstract

The concept of sustainable development as defined in ecological terms can be extended to apply to culture by recognising parallels between the concepts of natural and cultural capital. This paper reviews the definitions of both these forms of capital and shows how they contribute to sustainability. Criteria for weak and strong sustainability are considered, on the basis of which a strong sustainability rule for cultural capital is derived. It is speculated that certain cultural indicators may be useful in providing first approximations to variables that would need to be quantified in any eventual empirical application of this model.

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File URL: http://www.econ.mq.edu.au/research/2005/cult_cap_throsby.pdf
File Format: application/pdf
File Function: First Version, 2005
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Publisher Info
Paper provided by Macquarie University, Department of Economics in its series Research Papers with number 0510.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 16 pages.
Date of creation: Jul 2005
Date of revision:
Handle: RePEc:mac:wpaper:0510

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Postal: Sydney NSW 2109
Web page: http://www.econ.mq.edu.au/
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Related research
Keywords: Natural capital; cultural capital; sustainability; sustainable development;

Find related papers by JEL classification:
Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

This paper has been announced in the following NEP Reports:

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  1. Pearce, David W. & Atkinson, Giles D., 1993. "Capital theory and the measurement of sustainable development: an indicator of "weak" sustainability," Ecological Economics, Elsevier, vol. 8(2), pages 103-108, October. [Downloadable!] (restricted)
  2. Pearce, David, 1992. "Economic valuation and the natural world," Policy Research Working Paper Series 988, The World Bank. [Downloadable!]
  3. Hartwick, John M, 1977. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," American Economic Review, American Economic Association, vol. 67(5), pages 972-74, December. [Downloadable!] (restricted)
    Other versions:
  4. Hartwick, John M, 1978. "Substitution among Exhaustible Resources and Intergenerational Equity," Review of Economic Studies, Blackwell Publishing, vol. 45(2), pages 347-54, June. [Downloadable!] (restricted)
  5. Hartwick, John M, 1995. "Constant Consumption Paths in Open Eocnomies with Exhaustible Resources," Review of International Economics, Blackwell Publishing, vol. 3(3), pages 275-83, October.
  6. Solow, Robert M, 1974. "The Economics of Resources or the Resources of Economics," American Economic Review, American Economic Association, vol. 64(2), pages 1-14, May.
  7. Victor, Peter A., 1991. "Indicators of sustainable development: some lessons from capital theory," Ecological Economics, Elsevier, vol. 4(3), pages 191-213, December. [Downloadable!] (restricted)
  8. Solow, Robert M, 1986. " On the Intergenerational Allocation of Natural Resources," Scandinavian Journal of Economics, Blackwell Publishing, vol. 88(1), pages 141-49.
  9. R. M. Solow, 1973. "Intergenerational Equity and Exhaustable Resources," Working papers 103, Massachusetts Institute of Technology (MIT), Department of Economics.
  10. David Throsby, 1999. "Cultural Capital," Journal of Cultural Economics, Springer, vol. 23(1), pages 3-12, March. [Downloadable!] (restricted)
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