Patrons of the Arts
Art: The Economic Point of View
- Coursepack: Frey, Cultural Economics and Cultural Policies, “Art: The Economic Point of View”
- Singapore Art Week (take 5 min and get lost in the site)
- Indie Musician Zoe Keating Defines Transparency; Breaks Down Exactly How She Makes A Living
- Website: Highest paid conductor in the world
- Website: World’s Highest Paid Musicians 2017
- Website: Most Expensive Paintings
Key Course Concepts:
- rational choice
- competitive market
- monopolistic supplier
- aesthetic beauty
- basic preferences
- revealed preferences
- income constraint
- time constraint
- social constraint
- physical constraint
- demand side
- supply side
- marginal willingness to pay
- representative body
- What criteria to economists use to define “art”?
- Why does individualism clash with institutions, organizations, and representative bodies?
- How does supply and demand govern the arts in society?
- What constraints keep people away from art they want?