Economic arguments for public support of arts and culture

Trine Bille ()

Chapter 7 in Teaching Cultural Economics, 2020, pp 42-50 from Edward Elgar Publishing

Abstract: In most countries, parts of the cultural sector is subsidized by public means to a greater or lesser extent, especially museums, libraries and the performing arts. This chapter discusses different arguments from economic theory for public support of arts and culture. The chapter is based on welfare economics, where the main arguments for public intervention are ‘market failure’ like public goods and externalities. The chapter shows how these concepts can be applied to the cultural sector and discusses the issues of efficiency and equity.

Keywords: Economics and Finance; Teaching Methods (search for similar items in EconPapers)
Date: 2020
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