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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

Suggested Citation

  • David Throsby, 1999. "Cultural Capital," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 23(1), pages 3-12, March.
  • Handle: RePEc:kap:jculte:v:23:y:1999:i:1:p:3-12 DOI: 10.1023/A:1007543313370
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    Other versions of this item:

    • David Throsby, 2003. "Cultural capital," Chapters,in: A Handbook of Cultural Economics, chapter 19 Edward Elgar Publishing.
    • David Throsby, 2011. "Cultural Capital," Chapters,in: A Handbook of Cultural Economics, Second Edition, chapter 20 Edward Elgar Publishing.

    References listed on IDEAS

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    1. 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.
    2. Carlos Ulibarri, 2000. "Rational Philanthropy and Cultural Capital," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 24(2), pages 135-146, May.
    3. Casson Mark, 1993. "Cultural Determinants of Economic Performance," Journal of Comparative Economics, Elsevier, pages 418-442.
    4. Sao-Wen Cheng, 2005. "Cultural Goods Production, Cultural Capital Formation and the Provision of Cultural Services," Volkswirtschaftliche Diskussionsbeiträge 119-05, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.
    5. Rizzo, Ilde & Throsby, David, 2006. "Cultural Heritage: Economic Analysis and Public Policy," Handbook of the Economics of Art and Culture, Elsevier.
    6. Hicks, John R, 1974. "Capital Controversies: Ancient and Modern," American Economic Review, American Economic Association, vol. 64(2), pages 307-316, May.
    7. 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.
    8. David Throsby, 1999. "Cultural Capital," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, pages 3-12.
    9. Becker, Gary S., 1994. "Human Capital," University of Chicago Press Economics Books, University of Chicago Press, edition 3, number 9780226041209.
    10. David Throsby, 2011. "Cultural Capital," Chapters,in: A Handbook of Cultural Economics, Second Edition, chapter 20 Edward Elgar Publishing.
    11. 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.
    12. Gray, H. Peter, 1996. "Culture and Economic Performance: Policy as an Intervening Variable," Journal of Comparative Economics, Elsevier, pages 278-291.
    13. Solow, Robert, 1993. "An almost practical step toward sustainability," Resources Policy, Elsevier, vol. 19(3), pages 162-172, September.
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