The Economics of Art and Culture: An American Perspective

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The first book to analyze the economics of the arts in the United States examines the problems of arts markets, performing arts companies and museums in the context of public policy directives towards culture at federal, state and local levels.
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Overview

The first book to analyze the economics of the arts in the United States examines the problems of arts markets, performing arts companies and museums in the context of public policy directives towards culture at federal, state and local levels.
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Editorial Reviews

Library Journal
Many of us think of the fine arts as purist endeavors, uncompromised by the influence of commerce. But there are market forces at work in this $7 billion sector of the American economy. Heilbrun Urban Economics and Public Policy , St. Martin's, 1987 and Gray economics, Univ. of St. Thomas explore the complex relationship between the arts and the larger economy in this methodical, well-researched study. From the microeconomics of production management to larger issues like public arts funding and the challenges posed by the mass-market entertainment industry, the authors' considerations are exhaustive if at times overly wrought. This is a solid, readable contribution to a sparse body of literature; recommended for collections in economics and arts management.-- A.G. Wright, Harvard Coll. Lib., Cambridge, Mass.
From the Publisher
'A thorough and illuminating survey of the field along with valuable original information and interpretive material. As a survey the book has no rivals and is an admirable introduction to the field.' William J. Baumol, coauthor of Performing Arts: The Economic Dilemma

'The economics of arts and culture are really not arcane, but arts policy-makers, arts managers and friends of the arts, as well as students and teachers , have needed an accessible guide to the subject, oriented to American conditions, for years. In the Heilbrun and Gray book we have a superb guise, comprehensive in coverage, up-to-date, and beautifully written.' Dick Netzer, author of The Subsidized Muse

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Product Details

  • ISBN-13: 9780521419918
  • Publisher: Cambridge University Press
  • Publication date: 8/27/1993
  • Pages: 398
  • Product dimensions: 6.14 (w) x 9.21 (h) x 1.18 (d)

Meet the Author

Charles M. (Mel) Gray is professor of business economics in the Opus College of Business, University of St Thomas, where he has been teaching economics, strategy and nonprofit management to undergraduate and MBA students for more than 30 years. Previously he was a staff economist at the Federal Reserve Banks of St Louis and Minneapolis and for a Minnesota state agency, and he served as executive director of a community development agency. He has been a visiting or adjunct faculty member at Macalester College and the Universities of Oslo, North Carolina, Minnesota, British Columbia and Rochester. He received his BA in Social Science and Mathematics from Hendrix College and his AM and Ph.D. in Economics from Washington University. His primary research interests are the nonprofit and creative sectors, principally the nonprofit arts. He has authored or edited three books, and his publications include numerous articles and book chapters. He currently serves as editor of Nonprofit Management and Leadership, a leading research journal for the nonprofit sector. He has been a consultant to the US Department of Justice, the National Endowment for the Arts, the District of Columbia, several Minnesota state agencies and numerous companies, nonprofit organizations and trade associations.
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Table of Contents

List of figures and tables
Preface
Pt. I The arts sector in the United States: size, growth, and audiences
1 An overview of the arts sector 3
2 Growth of the arts sector 11
3 Audiences for the arts 36
Pt. II The microeconomics of demand and supply
4 Consumer demand: an introduction 55
5 The characteristics of arts demand and their policy implications 77
6 Production in the performing arts 98
7 Firms and markets in the performing arts 107
8 Productivity lag and the financial problem of the arts 125
Pt. III The fine arts and museums
9 The market in works of art 149
10 The economics of art museums 169
Pt. IV Public policy toward the arts
11 Should the government subsidize the arts? 199
12 Public and/or private support for the arts 227
13 Direct public support for the arts 250
Pt. V Art, economy, and society
14 The arts as a profession: education, training, and employment 281
15 The role of the arts in a local economy 302
16 The mass media, public broadcasting, and the cultivation of taste 323
17 Conclusion: innovation, arts education, and the future of art and culture in the United States 350
Index 369
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