A New Economic Theory of Public Support for the Arts

A New Economic Theory of Public Support for the Arts delves into the complex relationship between the arts and public funding, posing critical questions about the role of government support in a capitalist society. It invites readers to consider whether the arts can thrive without public assistance and explores the economic justifications for government intervention in this sector. The book aims to provide a comprehensive examination of how public resources are allocated to support artistic endeavors.

The author employs a Veblenian perspective on economic development to analyze public support for the arts, seeking to uncover the underlying economic rationales for such funding. The text is organized into three distinct sections. The first section offers foundational insights into public support for the arts, with a focus on case studies from the United States and Australia. This comparative approach provides a broad understanding of how different nations approach arts funding.

In the second section, a neoclassical overview is presented, offering additional context to the discussion. The final part of the book delves into Thorstein Veblen’s theories on economic development, linking them to the contemporary discourse on public support for the arts. This work is particularly valuable for researchers interested in cultural and institutional economics, as well as political economy, as it challenges conventional views and encourages a deeper exploration of the economic implications of supporting the arts.