Economics of the arts and literature

The cultural economy or culture economics deals with economic contexts in the fields of art and culture, but also with the culture industry. The starting point was the consideration of Baumol and Bowen ( 1965), who showed that a string quartet its productivity can not be increased, while all other sectors, at that time, especially the industry, this very well could. As a result, more and more economists and economists have expressed to cultural economy and there was the one the Association for Cultural Economics International - ACEI ) and 1973 also has its own magazine which, Journal of Cultural Economics ' (JCE ). The main focus in the cultural economy is on welfare economic considerations and questions whether, how and to what extent state intervention is necessary in order to avoid under-production by market failures.

In addition to Baumol and Bowen also Alan Peacock, Mark Blaug, Ruth Towse, Victor Ginsburg, Gillian Doyle and Francoise Benhamau have made ​​a name in the cultural economy.

An adjacent discipline, the economics of copyright ( Economics of Copyright ) dar. It focuses on the impact of copyright on economic issues. The Society for Economic Research on Copyright Issues ( SERCI ) is to remove the tray Magazine Review on Economic Research of Copyright Issues ( RERCI ).

With the state subsidy and the private sponsorship of cultural institutions such as museums, operas, theaters, orchestras are binding for these institutions and cultural management principles of economy in the use of scarce resources. This will give cameralistic and economic principles of the market economy moving into a remote segment. You are the one pole of scientific interest in the culture economics. The other pole are the importance of culture and the traditional values ​​of her, as the self is not created by the economic conditions and prerequisites for the economy embedded in culture and society (see Economic Sociology ).