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Expenditures, Earnings, and Net Worth of the Comédie Française, 1723–1793

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  • Francois R. Velde

Abstract

I study the expenditures of the Comédie française from 1759 to 1793 and the company’s debt from 1723 to 1793. Expenditures were well controlled and changes in venues account for their increase over time. The debt, however, was less controlled, because of the company’s partnership structure and the incentives it created for actors to compensate with debt any shortfall in income due to low tickets sales or delayed payments from the king. I analyze the debt instruments used and the social background of the lenders. I also study the total income of individual actors and the earnings profile over their career. A government intervention in 1759 provided only long-term financial relief but imposed better debt management. The company was in a fragile position when the Revolution broke out, but the hyperinflation of 1795–96 wiped out a large part of the debt.

Suggested Citation

  • Francois R. Velde, 2025. "Expenditures, Earnings, and Net Worth of the Comédie Française, 1723–1793," Working Paper Series WP 2025-22, Federal Reserve Bank of Chicago.
    • Handle: RePEc:fip:fedhwp:102274
    DOI: 10.21033/wp-2025-22
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    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • N73 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: Pre-1913
    • N83 - Economic History - - Micro-Business History - - - Europe: Pre-1913

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