Arts and Artists from an Economic Perspective examines the relationship between fine art and economics. Author Xavier Greffe considers the impact of fine arts on economic growth and development and identifies the economic factors that can affect the emergence, success and disappearance of artistic activities. He begins with an analysis of the art market where the players involved cannot be measured by standard economic yardsticks. He further explores the various dynamic processes influencing the development of the artistic sector such as: a revolving compromise between heritage and creation; a continuous passage between an original work of art and the products of cultural industries; and a constant shift between for-profit and not-for-profit institutions.
Greffe provides a way to evaluate art from an economic perspective that explains both the creation and development of art without judging its existence purely in terms of economic logic.
Xavier Greffe is professor of Economics of Arts at the University of Sorbonne, Paris. His most recent books are: Managing our Cultural Heritage (Paris and New Delhi, 1999) and L'emploi culturel à l'âge du numérique (Economica, 2000).