Economics and Culture

Abstract

In an increasingly globalised world, economic and cultural imperatives can be seen as two of the most powerful forces shaping human behaviour. This book considers the relationship between economics and culture both as areas of intellectual discourse, and as systems of societal organisation. Adopting a broad definition of culture, it explores the economic dimensions of culture, and the cultural context of economics. The book is built on a foundation of value theory, developing the twin notions of economic and cultural value as underlying principles for integrating the two fields. Ideas of cultural capital and sustainability are discussed, especially as means of analysing the particular problems of cultural heritage, drawing parallels with the treatment of natural capital in ecological economics. The book goes on to discuss the economics of creativity in the production of cultural goods and services; culture in economic development; the cultural industries; and cultural policy.

Culture, participative decision making and job satisfaction

“…Such challenges can be attributed to how culture is interpreted, and thus measured. For example, culture can be used to describe the intellectual or spiritual development of a civilisation or the entire way of life of a group of people (Throsby, 2001). Both such interpretations would be analytically empty for the purposes of economic analysis, and thus it is important to establish a definition which lends itself well to empirical research.…”

The Cultural Identity Construction of Temples for Tourism

“…Cultural capital value is the asset that embodies stores and provides cultural value in addition to its existing economic value (Throsby, 2001). Such asset can give rise to both economic and cultural benefits.…”

“…Such asset can give rise to both economic and cultural benefits. According to Throsby (2001), there are two main forms of cultural capital. The first form is intangible cultural capital which covers idea, intellect, belief and value (Throsby, 2003).…”

“…Another form is tangible cultural capital. Buildings, locations, and sites are examples of this cultural capital (Throsby, 2001). In a Thai context, tangible cultural capital can be archaeological site, antiquities as well as buildings in a temple.…”

Creative industries: a new direction?

“…First, that the creativity associated with the arts is no longer their privileged monopoly. Cunningham especially is critical of the way in which cultural economists, such as Throsby (2001), see the 'arts' as representing the pure form of creativity, involving 'a dubious assumption that the more sectors produce both cultural and non-cultural goods and services…the less 'core' [and hence less purely creative] they are' (Cunningham 2006). Second, that contemporary creativity does not seem to have any substantial market failure issues, or at least not of the sort associated with the arts.…”