Measuring intrinsic value – how to stop worrying and love economics
AbstractThis paper seeks to transcend entrenched misunderstandings between economists and arts policymakers, leaders and funders. These misunderstandings, which have long dogged discussion on arts funding in the UK, are most evident in the long-running debate about ‘instrumental’ and ‘intrinsic’ approaches to public expenditure on culture and the arts. As a general theory of public choice, economics provides tools for measuring the intrinsic as well as instrumental value of art in a way that is commensurable with other calls on the public purse. The reluctance to use rigorous economic methods has hindered rather than helped the case for the arts. This paper offers a provocative reconsideration of the outdated and poorly-informed prejudices which lie behind this reluctance. This is a prepublication draft. A version has been published electronically by Mission Models Money and can be accessed at http://www.missionmodelsmoney.org.uk/page.php?id=34
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 14902.
Date of creation: Apr 2009
Date of revision:
cultural economics; creative industries; innovation; internet;
Find related papers by JEL classification:
- Z1 - Other Special Topics - - Cultural Economics
- Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-05-02 (All new papers)
- NEP-CUL-2009-05-02 (Cultural Economics)
- NEP-HPE-2009-05-02 (History & Philosophy of Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Throsby,David, 2000.
"Economics and Culture,"
Cambridge University Press, number 9780521586399, December.
- Allan, Corey & Grimes, Arthur & Kerr, Suzi, 2013. "Value and Culture," Working Papers 13_09, Motu Economic and Public Policy Research.
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