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In an increasingly globalised world, economic and cultural imperatives can be seen as two of the most powerful forces shaping human behaviour. This book considers the relationship between economics and culture both as areas of intellectual discourse, and as systems of societal organisation. Adopting a broad definition of culture, it explores the economic dimensions of culture, and the cultural context of economics. The book is built on a foundation of value theory, developing the twin notions of economic and cultural value as underlying principles for integrating the two fields. Ideas of cultural capital and sustainability are discussed, especially as means of analysing the particular problems of cultural heritage, drawing parallels with the treatment of natural capital in ecological economics. The book goes on to discuss the economics of creativity in the production of cultural goods and services; culture in economic development; the cultural industries; and cultural policy.
. . . the book is excellent in setting out and explaining a fundamental critique of economics one moreover that has been missed by most other current critics of the field. Making this case is an achievement. Hopefully, it will have a greater impact than its author probably expects. Journal of Cultural Economics Economics evolved by perfecting the taking of culture out of its reductionist and virtual world. But culture has recently been reintroduced, both as a sphere of application for an otherwise unchanging methodology and as a weak form of acknowledging that the economic alone is inadequate as the basis even for explaining the economy. This volume is an essential critical starting point for understanding the changing relationship between economics and culture and in offering a more satisfactory and stable union between the two. Ben Fine, University of London, UK Economics, Culture and Social Theory examines how culture has been neglected in economic theorising and considers how economics could benefit by incorporating ideas from social and cultural theory. Orthodox economics has prompted a long line of cultural criticism that goes back to the origins of economic theory and extends to recent debates surrounding postmodernism. William A. Jackson discusses the cultural critique of economics, identifies the main arguments, and assesses their implications. Among the topics covered are relativism and realism, idealism and materialism, agency and structure, hermeneutics, semiotics, and cultural evolution. Drawing from varied literatures, notably social and cultural theory, the book stresses the importance of culture for economic behaviour and looks at the prospects for a renewed and culturally informed economics. The book will be invaluable to heterodox economists and to anyone interested in the links between culture and the economy. It takes an interdisciplinary approach, arguing against the isolation of economics, and will therefore hold wide appeal for social scientists working in related fields, as well as for economists specialising in cultural economics and economic methodology.
Culture manifests itself in everything human, including the ordinary business of everyday life. Culture and art have their own value, but economic values are also constrained. Art sponsorships and subsidies suggest a value that exceeds market price. So what is the real value of culture? Unlike the usual focus on formal problems, which has 'de-cultured' and 'de-moralized' the practice of economics, this book brings together economists, philosophers, historians, political scientists and artists to try to sort out the value of culture. This is a book not only for economists and social scientists, but also for anybody actively involved in the world of the arts and culture.
Many economists now accept that informal institutions and culture play a crucial role in economic outcomes. Driven by the work of economists like Nobel laureates Douglass North and Gary Becker, there is an important body of work that invokes cultural and institutional factors to build a more comprehensive and realistic theory of economic behavior. This book provides a comprehensive overview of research in this area, sketching the main premises and challenges faced by the field. The first part introduces and explains the various theoretical approaches to studying culture in economics, going back to Smith and Weber, and addresses the methodological issues that need to be considered when including culture in economics. The second part of the book then provides readers with a series of examples that show how the cultural approach can be used to explain economic phenomena in four different areas: entrepreneurship, trust, international business and comparative corporate governance.
As the most successful sitcom of all time, the television series Seinfeld provides a rich environment for learning basic economic principles. Chronicling the lives of four close friends—Jerry, George, Elaine, and Kramer—the show highlights human behavior at its best and its worst. The major characters paint themselves as some of the most self-interested individuals in all of popular culture, and are faced with dilemmas that force them to make decisions. Those decisions are at the heart of economics. Each chapter in this book explores one or more key economic concepts and relates them to key scenes from the show. These principles are then applied to other real-world situations, arming readers with the tools needed to make better economic decisions. Written in a light-hearted and conversational style, this book is a must-read for fans of Seinfeld and anyone who wants to learn something from "the show about nothing." It is an ideal supplement for all economics classes.
This volume emphasizes the economic aspects of art and culture, a relatively new field that poses inherent problems for economics, with its quantitative concepts and tools. Building bridges across disciplines such as management, art history, art philosophy, sociology, and law, editors Victor Ginsburgh and David Throsby assemble chapters that yield new perspectives on the supply and demand for artistic services, the contribution of the arts sector to the economy, and the roles that public policies play. With its focus on culture rather than the arts, Ginsburgh and Throsby bring new clarity and definition to this rapidly growing area. - Presents coherent summaries of major research in art and culture, a field that is inherently difficult to characterize with finance tools and concepts - Offers a rigorous description that avoids common problems associated with art and culture scholarship - Makes details about the economics of art and culture accessible to scholars in fields outside economics
This book depicts the need for an economics that addresses social provisioning in the context of power and culture. Such an approach is necessary to the development of an analysis that treats human wants and technology as endogenous variables, thereby avoiding the atavism inherent in conventional economics epistemology. Only in this way can the requisite re-viewing of the place of economy in society be brought to bear in an economic analysis capable of addressing the seemingly intractable problems of the democratic capitalist societies.
This book studies the relationship between the arts and the economy. By applying economic thinking to arts and culture, it analyses markets for art and cultural goods, highlights specific facets of art auctions and discusses determinants of the economic success of artists. The author also sheds new light on various cultural areas, such as the performing and visual arts, festivals, films, museums and cultural heritage. Lastly, the book discusses cultural policies, the role of the state in financing culture, and the relationship between the arts and happiness.
Over the last 30 or 40 years a substantial literature has grown up in which the tools of economic theory and analysis have been applied to problems in the arts and culture. Economists who have surveyed the field generally locate the origins of contemporary cultural economics as being in 1966, the year of publication of the first major work in modern times dedicated specifically to the economics of the arts. It was a book by Baumol and Bowen which showed that economic analysis could illuminate the supply of and demand for artistic services, the contribution of the arts sector to the economy, and the role of public policy. Following the appearance of the Baumol and Bowen work, interest in the economics of the arts grew steadily, embracing areas such as demand for the arts, the economic functions of artists, the role of the nonprofit sector, and other areas. Cultural economics also expanded to include the cultural or entertainment industries (the media, movies, the publishing industry, popular music), as well as heritage and museum management, property right questions (in particular copyright) and the role of new communication technologies such as the internet. The field is therefore located at the crossroads of several disciplines: economics and management, but also art history, art philosophy, sociology and law. The Handbook is placed firmly in economics, but it also builds bridges across these various disciplines and will thus be of interest to researchers in all these different fields, as well as to those who are engaged in cultural policy issues and the role of culture in the development of our societies. *Presents an overview of the history of art markets *Addresses the value of art and consumer behavior toward acquiring art *Examines the effect of art on economies of developed and developing countries around the world
In this book, the authors set forth a new model of globalization that lays claims to supersede existing models, and then use this model to assess the way the processes of globalization have operated in different historic periods in respect to political organization, military globalization, trade, finance, corporate productivity, migration, culture, and the environment. Each of these topics is covered in a chapter which contrasts the contemporary nature of globalization with that of earlier epochs. In mapping the shape and political consequences of globalization, the authors concentrate on six states in advanced capitalist societies (SIACS): the United States, the United Kingdom, Sweden, France, Germany, and Japan. For comparative purposes, other states—particularly those with developing economics—are referred to and discussed where relevant. The book concludes by systematically describing and assessing contemporary globalization, and appraising the implications of globalization for the sovereignty and autonomy of SIACS. It also confronts directly the political fatalism that surrounds much discussion of globalization with a normative agenda that elaborates the possibilities for democratizing and civilizing the unfolding global transformation.