Economic perspective

Harold L. Vogel

doi:10.1017/CBO9780511510786.003

Chapter 1 - Economic perspective

from Part I - Introduction

Published online by Cambridge University Press: 22 August 2009

Harold L. Vogel

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Summary

To everything there is a season, and a time to every purpose under the heaven.

– Ecclesiastes

Extending this famous verse, we can also say that there is a time for work and a time for play. There is a time for leisure.

An important distinction, however, is to be made between the precise concept of a time for leisure and the semantically different and much fuzzier notion of leisure time, our initial topic. In the course of exploring this subject, the fundamental economic forces that affect spending on all forms of entertainment will be revealed, and our understanding of what motivates expenditures for such goods and services will be enhanced. Moreover, the perspectives provided by this approach will enable us to see how entertainment is defined and how it fits into the larger economic picture.

Time concepts

Leisure and work

Philosophers and sociologists have long wrestled with the problem of defining leisure – the English word derived from the Latin licere, which means “to be permitted” or “to be free.” In fact, as Kraus (1978, p. 38) and Neulinger (1981, pp. 17–33) have noted, leisure has usually been described in terms of its sociological and psychological (state-of-mind) characteristics.

The classical attitude was epitomized in the work of Aristotle, for whom the term leisure implied both availability of time and absence of the necessity of being occupied (De Grazia 1962, p. 19).

Type: Chapter
Information: Entertainment Industry Economics
A Guide for Financial Analysis
, pp. 3 - 38

DOI: https://doi.org/10.1017/CBO9780511510786.003 [Opens in a new window]

Publisher: Cambridge University Press

Print publication year: 2007

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