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The book Performing Arts-The Economic Dilemma by William Baumol and William Bowen, [1] devoted to the economics of the performing arts, is widely regarded as the starting point for contemporary cultural economics, setting out a considerable research programme through a fairly pessimistic analysis of the sustainability of the performing arts.
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, literature and similar creative and/or cultural products. For a long time, the concept of the "arts" were confined to visual arts (e.g ...
The Art Basic Guide focuses on art fundamentals, such as the elements of art, principles of composition, and different 2-D and 3-D techniques. Additionally, a brief introduction to art history is included. [101] The Economics Basic Guide reviews fundamental economic concepts in addition to the basics of macroeconomics and microeconomics.
A series of essays and papers analysing questions about how (and whether) models and theories in economics are empirically verified and the current status of positivism in economics. Morishima, Michio (1976), The Economic Theory of Modern Society, New York: Cambridge University Press, ISBN 0-521-21088-7.
Europe began to recognise culture's economic elements and to develop the concepts of cultural industries and creative industries in the 1990s. These prioritised culture, design and media. This approach was led by the British Department for Culture, Media and Sport (DCMS) which designated 14 creative industries in 1998, later reduced to 12. [10]
Students must learn to select relevant data, assess these data, and draw critically from them to make meaning, answer questions, or form new ones. Technology also presents more channels of expression, whether through digital art or artificial intelligence, [38] which, if supported by arts-technology integration, can cultivate that and inquiry ...
Cultural economics is the branch of economics that studies the relation of culture to economic outcomes. Here, 'culture' is defined by shared beliefs and preferences of respective groups. Programmatic issues include whether and how much culture matters as to economic outcomes and what its relation is to institutions. [ 1 ]
Standard economic theory suggests that in relatively open international financial markets, the savings of any country would flow to countries with the most productive investment opportunities; hence, saving rates and domestic investment rates would be uncorrelated, contrary to the empirical evidence suggested by Martin Feldstein and Charles ...