A New Economic Theory of Public Support for the Arts
Evolution, Veblen and the predatory arts
Should the arts receive public support? Can the arts survive in a modern capitalist society? Can economics shed light on the nature of public support, and whether there is a rationale for public intervention? This book undertakes to examine these questions as it explores the ways government and public resources are used to support the arts.
This book applies a Veblenian approach to understanding economic development to investigate public support for the arts in an effort to determine whether this approach can elucidate economic rationales for public support. Divided into three parts, the first provides basic information on public support for the arts by surveying support in the United States and Australia. Part two includes a neoclassical overview of the topic while part three presents Veblen’s ideas on economic development.
This book will be of interests to researchers concerned with cultural and institutional economics, as well as political economy.
Table of Contents
1. Introduction 2. Understanding Public Support for the Arts 3. The Economics of the Arts 4. Public Support for the Arts 5. Veblen and his muses 6. Veblen’s Economic Edifice 7. Production and Consumption through the Veblenian Prism 8. The Veblenian Duality and Public Support for the Arts 9. Conclusion
Arnaldo Barone is Research Associate, Victoria Institute for Strategic Economic Studies, as well as Senior Strategic Adviser, at Victoria University, Australia.