Economics of the arts and literature or cultural economics (used below for convenience) is a branch of economics that studies the economics of creation, distribution, and the consumption of works of art and literature. For a long time the arts were confined to visual and performing arts in the Anglo-Saxon tradition. Usage has widened since the beginning of the 1980s with the study of cultural industry (cinema and music publishing), and the economy of cultural institutions (museums, libraries, historic buildings). The field is coded as JEL: Z11 in the Journal of Economic Literature classification system used for article searches.
Read more about Economics Of The Arts And Literature: Introduction, Performing Arts: Baumol and Cultural Economics, The Market For Artworks, Cultural Industries, Economics of Cultural Heritage, The Artists' Labour Market
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“I am not prepared to accept the economics of a housewife.”
—Jacques Chirac (b. 1932)
“I am not prepared to accept the economics of a housewife.”
—Jacques Chirac (b. 1932)
“These modern ingenious sciences and arts do not affect me as those more venerable arts of hunting and fishing, and even of husbandry in its primitive and simple form; as ancient and honorable trades as the sun and moon and winds pursue, coeval with the faculties of man, and invented when these were invented. We do not know their John Gutenberg, or Richard Arkwright, though the poets would fain make them to have been gradually learned and taught.”
—Henry David Thoreau (1817–1862)
“Literature is not exhaustible, for the sufficient and simple reason that a single book is not. A book is not an isolated entity: it is a narration, an axis of innumerable narrations. One literature differs from another, either before or after it, not so much because of the text as for the manner in which it is read.”
—Jorge Luis Borges (1899–1986)