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Economic Freedom and Cultural Flourishing: A Praxeological Account on Value, Capital, Sustainability, and Identity


  • Octavian-Dragomir Jora


A theory of cultural “value, capital, and sustainability†(as core economic concepts) is just a subset of the general economic theory. The “cultural†epithet cannot generate independent epistemic effects, even though the mainstream economics of culture assumes the “cultural value†, “cultural capital†, “cultural sustainability†as special realities, requiring special treatment. But if the cultural aspect can underline something “special†, then, starting from some common definitions of culture, pointing to “a set of shared values, preferences, beliefs†, we are dealing with subjective preferences demonstrable in action, with voluntary inter-personal relations, and with clearly defined property rights, since cultural mark is imprinted on various material supports as scarce resources. This paper takes an Austrian School praxeological route in cultural economics. The peculiarity of the proposed research line lies in demonstrating how such praxeological analysis may explain the fecundity of the cultural realm, as an expression of exercising the human freedom in society, by voluntarily sharing its seeds and fruits. Thus, the praxeological test of culture-making-of is meant to reveal institutional situations that do not meet the genuine cultural value exigency, nor the idea of cultural reproducibility, nor the idea of cultural survival, since they rely not on free and fair human (inter)action, but on violent and wasteful redistributions and privileges (aka support and protection).

Suggested Citation

  • Octavian-Dragomir Jora, 2015. "Economic Freedom and Cultural Flourishing: A Praxeological Account on Value, Capital, Sustainability, and Identity," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 18(57), pages 51-66, September.
  • Handle: RePEc:rej:journl:v:18:y:2015:i:57:p:51-66

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    References listed on IDEAS

    1. David Throsby, 2011. "Cultural Capital," Chapters,in: A Handbook of Cultural Economics, Second Edition, chapter 20 Edward Elgar Publishing.
    2. Mihaela IACOB & Felicia ALEXANDRU & Meral KAGITCI & Georgiana Camelia CREŢAN & Filip IORGULESCU, 2012. "Cultural heritage evaluation: a reappraisal of some critical concepts involved," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(12(577)), pages 61-72, December.
    3. Jora Octavian-Dragomir, 2009. "Trei teorii liberale ale proprietăţii şi fundamentele analizei economice în termeni de proprietate (I – Mises şi utilitarismul liberal)," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 01, March.
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    More about this item


    culture; freedom; praxeology; value; capital;

    JEL classification:

    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • D60 - Microeconomics - - Welfare Economics - - - General
    • Z10 - Other Special Topics - - Cultural Economics - - - General
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature


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