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Arts and Artists from an Economic Perspective

‘(…) Opposing the view that considers culture and economic development as a special matter for anthropological studies, the work of Greffe focuses on the role of culture and creativity as engines for economic and social development. This is a new and promising field for economic research. It is based on the acknowledgement of culture both as an asset for development and as a source for the progress of creative industries and clusters, or cultural districts, of small and medium sized enterprises producing culture-based goods and high quality artistic handicrafts. The work of Greffe takes the reader towards the grey zone connecting cultural economics to economic geography, the economics of symbolic goods and the institutional approach to the rules governing the world of art production and consumption. (…) Overall the book presents an enormous wealth of observations and findings on the art world. This aspect of Greffe’s analysis makes the book always fresh, rich in cultural and literary references, and grounded on clear empirical evidence.’

Walter Santagata, University of Turin, Journal of Cultural Economics

Arts and Artists from an Economic Perspective identifies the economic factors capable of explaining the emergence, reliability, and disappearance of artistic activities. It discusses the aesthetic, development and activity values of an artistic good; considerations in valuing an artistic good or service; the production of artistic goods and services as a risky business and special management issues in the artistic field; the artist as an entrepreneur of his talents; artistic creation, artistic heritage, and the duplication of works of art; and works of art and developments in the cultural industries. It then considers the debate between cultural pessimists, who believe that only the state can rectify the structural weaknesses of the market, and the cultural optimists, who are convinced that the market can stimulate creativity and the large-scale diffusion of artistic goods.’

Journal of Economic Literature









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