By Ben Walmsley
ISBN-10: 190688420X
ISBN-13: 9781906884208
The single ebook on modern matters which covers the humanities and leisure sectors, from social networking and Twitter, to truth television and electronic rights administration
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Extra info for Key issues in the arts and entertainment industry
Example text
For example, economists use the term ‘cost disease’ in the arts, also known as Baumol’s Law (see Towse, 2010: 10–12), to describe the problem of rising production costs over time. If such costs are passed on to the consumer then there is the risk of reduced participation (and profit), or even an ‘artistic deficit’. Part of the whole point of Baumol’s Law is based on the fairly standard social welfare argument in economics: that is, the utilitarian argument of justifying state intervention in terms of the greatest good for the greatest number.
2006) Thriving in the Knowledge Age: New Business Models for Museums and Other Cultural Institutions, Oxford: Rowman and Littlefield Publishers. , Scholes, K. and Whittington, R. (2009) Fundamentals of Strategy, Harlow: Financial Times Prentice Hall. Knell, J. com/ doc/23974643/Art-of-Dying-John-Knell-2005 Magretta, J. (2002) ‘Why business models matter’, Harvard Business Review, 80 (5), 86–92. Penny, D. (2009) ‘Imagine an arts sector which works collaboratively to deliver excellence and engage the public’, in: Proceedings of the Arts Marketing Association Conference, 21–23 July 2009, London: Arts Marketing Association, pp.
Above, I noted that public good has basically become a rationalised question of economic value rather than responsibility. Part of what this means is that responsibility is disaggregated (and abrogated) by government and shifted to the individual in society – the taxpayer, the consumer, the citizen, all at once – to obtain public services or goods as modelled on the demand-led economy of the market. This is part of the ‘complex professional era’ in which democracy, public services and taxpaying are also implicated.