Creative economy of the paternalistic state: What does the coming day hold for us?

A. Rubinstein
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A. Rubinstein: Institute of Economics, Russian Academy of Sciences, Moscow, Russia

Journal of the New Economic Association, 2022, vol. 54, issue 2, 209-212

Abstract: The paper presents the author's view on the formation of economics of culture which was acceded to the neoclassical theory as a branch science only in the second half of XXth century with the inherent law of "price disease" causing deficiency of income of cultural goods producers. The present stage of the development of this science is determined by the modern theory of economic growth where the hypothesis of dependence of total factor productivity on intangible assets is presented as an innovation allowing discovering inner resources of culture and other creative economy branches which fundamentally change their position in the economic world. The question is about the economic valuation of the results of cultural activity, including copyrights that were transformed into intellectual property. At the same time, the article formulates a contrary assessment of the concept of cultural industries, which can only become an additional reason for the financial authorities to reduce the amount of budget subsidies to producers of cultural goods.

Keywords: creative economy; creative industries; intellectual property; cultural goods (search for similar items in EconPapers)
JEL-codes: H52 Y10 Z1 Z12 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2022:i:54:p:209-212

DOI: 10.31737/2221-2264-2022-54-2-11

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