Does brain research provide a case for the transfer of public monies to the arts?
This paper proposes, by way of a theoretical model, that public subsidies for the arts act as a spur to the consumption of the arts which, in turn, increases the level of human capital, leading to increased economic growth. It points out that some recent studies in brain research deliver empirical evidence for this model, although it is as yet too early to prove it. Whilst, if accepted, the model will certainly justify subsidies for the arts, it still leaves many questions about efficient scope and scale unanswered.
|Date of creation:||12 Jun 2012|
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- Seaman, Bruce A, 2006. "Empirical Studies of Demand for the Performing Arts," Handbook of the Economics of Art and Culture, Elsevier.
- Stefan Mann, 2007.
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- Robert J. Barro & Xavier Sala-i-Martin, 2003. "Economic Growth, 2nd Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262025531, June.
- Bianchi, Marina, 2003. "A questioning economist: Tibor Scitovsky's attempt to bring joy into economics," Journal of Economic Psychology, Elsevier, vol. 24(3), pages 391-407, June.
- Robert J. Barro & Rachel McCleary, 2003. "Religion and Economic Growth," NBER Working Papers 9682, National Bureau of Economic Research, Inc.
- David Throsby, 2003. "Determining the Value of Cultural Goods: How Much (or How Little) Does Contingent Valuation Tell Us?," Journal of Cultural Economics, Springer, vol. 27(3), pages 275-285, November.
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