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The Economics of Cultural Policy
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Cultural policy is changing. Traditionally, cultural policies have been concerned with providing financial support for the arts, for cultural heritage and for institutions such as museums and galleries. In recent years, around the world, interest has grown in the creative industries as a source of innovation and economic dynamism. This book argues that an understanding of the nature of both the economic and the cultural value created by the cultural sector is essential to good policy-making. The book is the first comprehensive account of the application of economic theory and analysis to the broad field of cultural policy. It deals with general principles of policy-making in the cultural arena as seen from an economic point of view, and goes on to examine a range of specific cultural policy areas, including the arts, heritage, the cultural industries, urban development, tourism, education, trade, cultural diversity, economic development, intellectual property and cultural statistics.


‘As is to be expected of this leading writer on the economics of the arts, this book is yet another valuable contribution. It covers areas not previously well trodden and covers a subject of vital importance for the flourishing of the arts. Well written, as pieces by Throsby always are, it will add to the enjoyment as well as knowledge and understanding of its readers.’

William J. Baumol - Harold Price Professor of Entrepreneurship, New York University

‘David Throsby has again met the challenge of making cultural economics accessible to non-specialists while maintaining the interest of more specialised readers. His summaries of the various theories and their application to cultural policy could not be bettered and demonstrate his thorough understanding of both. I can recommend the book to everyone concerned with cultural economics and with cultural policy.'

Ruth Towse - Professor of Economics of Creative Industries, Bournemouth University and Professor Emerita, Erasmus University Rotterdam

‘Drawing on the best traditions of classical political economy, Throsby shows how the processes of cultural policy-making can be illuminated by the application of economic theory. In its insistence on a distinction between economic and cultural value, the book offers little support to those who see culture as just another branch of economic activity. What Throsby gives us is a rigorously worked out framework for economic analysis, but one that remains receptive to other intellectual influences. Written with great lucidity, using language that non-economists will understand, this is essential reading for anyone engaged in the study or making of cultural policies.'

Oliver Bennett - Professor of Cultural Policy Studies, University of Warwick, and Editor, International Journal of Cultural Policy

'David Throsby promises to provide a comprehensive synopsis of all economic contributions to the analysis of cultural policy while extending the discussion beyond the usual questions, inviting non-economists and specialists alike to join the conversation … [He] identifies important aspects of cultural policy and argues that it can be enriched rather than debased by economic logic. He persuasively argues this by elaborating on various theories and their application to broader areas of cultural interest.'

Lyudmila Petrova Source: Journal of Cultural Economics

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