As a key element of any society, culture generates a great deal of economic
activity. This book addresses a diversity of topics and concepts relating to this
economic activity, such as value, creation and the creative industries, supply
and demand ...
As a key element of any society, culture generates a great deal of economic
activity. This book addresses a diversity of topics and concepts relating to this
economic activity, such as value, creation and the creative industries, supply
and demand in the cultural sector, the role of government and the purpose and
formulation of public cultural policy.
Increased and enhanced cultural activity engenders positive externalities,
which provides reasons for government encouragement, promotion and sup-
port. Another reason is that there are indications that the creative industries
will play a fundamental role in the economies of numerous countries in the
present century, particularly in western countries.
The author also discusses cultural heritage in the context of development aid,
international trade and markets, finance and management. Underlying this dis-
cussion is the author’s conviction that trade in cultural goods could be even more
extensive than it is currently and that active involvement in the international
cultural sector can lead to opportunities for an improved quality of living in the
future. This book is valuable reading for anyone who takes an interest in culture.
Interspersed throughout the book are brief biographies of individuals who have
been influential in culture and cultural economics, along with a number of
charts, tables and brief narratives that illustrate the principles of some eco-
nomic theories in practice.
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