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17 Cards in this Set
- Front
- Back
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What is ends-in-view? |
The immediate goals which the individuals pursue. |
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What did the economist Gary suggest? |
He suggested that we should think of goods bought on the markets ast inputs to the production of underlying more fundamental goals or values. |
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Explain the issue about which arts to fund. |
Thirty years ago, there was a general consensus that what should be funded was 'high' culture while 'popular' culture was funded through the market by ticket sales and merchandising. Today, there is much less agreement on what constitutes 'culture'or 'art'. |
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One of the questions often asked of cultural economists is why one needs to put monetary value on the arts at all. Is it not possible to accept that the arts are valuable and so just agree to fund them publicly? |
If governments had unlimited funs, then this would certainly be enough, but in reality, limited public resources have to be allocated to all kinds of competing, and equally valid, needs, like education and healthcare. All funding decisions have opportunity costsd. That is, money spent on culture is money not available to spent on anything else. The question here is thus whether to fund the arts or something else, not necessarily only whether to fund the arts. |
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The arts have broadly 2 kinds of values. What are they? |
Instrumental values and intrinsic values. |
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Intrinsic value |
Is the value of the arts themselves, it reflects the purpose of producing art in the first place. |
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Instrumental values |
Are those things that arise as side effects of the arts, so they are not the main aim of the artistic endeavour, but nevertheless valuable. |
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Many artists, scholars, and policy-makers suggest that the value of arts should not be quantified, why do they say this? |
Well this idea largely stems from a tendency of some studies to focus on the instrumental values of the arts and not on the intrinsic values. Instrumental values are often captured by some market transaction, with its value measured in terms of price and are thus much easier to quantify than intrinsic values, but also not enough to quantify the values. |
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What is a danger of representing the value of culture using only instrumental values? |
The intrinsic value of the arts is excluded then and the intrinsic value is the reason that the art piece is here in the first place. |
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Contingent valuation (CV) |
A method to quantify the value of the arts, here surveys are used to ask large samples of people about their consumption of cultural activities and whether they would be willing to pay to support them. |
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Not only people who actually attenr art events are willing to pau to preserve and expand heritage sites but so are non-users, why is that? |
This is because in addition to the private benefits that the arts provide tio people who have bought a ticket, they also provide public benefits to society at large. |
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Public goods |
They are special because, once they have been provided, they benefit not only their purchaser, but also the whole society. It is thys not only those who purchase tickets to cultural events or who visits museums and heritage sites who benefit through their direct use values, but also people who do not consume the arts directly. |
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A characteristic of public goods? |
They are not completely appropriable by their supplier or by their purchaser. As such, the supply of cultural goods is likely to be below the socially optimal level, and the argument is that public funds should be used to correct this by providing support to suppliers. |
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Ranom utility theory (RUT) |
This is essentially about perceptions of value by individuals, it does so by creating an imaginary market in which individual people signal their value through their willingness to pay. |
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Throsby first introduced the idea of cultural capital, explain how this idea is related to the idea of intrinsic value. |
Well because economic capital generated by arts and culture (instrumental benefits) could also be supplied by other industries cultural capital is that part of value that can only be generated and provided by culture itself so through the intrinsic values. |
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What is Klamer's argument abour cultural capital? |
He says that it should be included as part of a nation or individuals wealth. Because it may impact positively on other parts of the economy. |
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Name another form of capital that can arise from arts and culture. |
Social capital |
