Author: McCain, Roger A.

Publication Year: 1981

Media Type: Report

Summary:

This article is concerned with to what extent may subsidies to artistic activities be justified by standard economic cost-benefit reasoning. The author concludes that the cultivation of taste and standard cost-benefit reasoning jointly support the conjecture that subsidies could be required to sustain efficient market equilibria, despite globally increasing marginal cost.

Abstract:

This article is concerned with to what extent may subsidies to artistic activities be justified by standard economic cost-benefit reasoning. The author concludes that the cultivation of taste and standard cost-benefit reasoning jointly support the conjecture that subsidies could be required to sustain efficient market equilibria, despite globally increasing marginal cost.

Arts & Intersections:

Categories: Creative Economies