Resource title

Cultural Goods Production, Cultural Capital Formation and the Provision of Cultural Services

Resource image

image for OpenScout resource :: Cultural Goods Production, Cultural Capital Formation and the Provision of Cultural Services

Resource description

Cultural capital is assumed to benefit all members of society. It is accumulated through the consumption of cultural services and is diminished through depreciation. Using the stock of cultural goods, cultural services are provided by the cultural services industry; the stock of cultural goods is enlarged by the flow of new cultural goods created by individuals who are both consumers and creators of culture and whose utility is positively affected by the cultural goods they created. In the no-policy market economy, individuals tend to ignore the positive external effects of their cultural services consumption and creation of cultural goods on other individuals via augmenting cultural capital and cultural-goods stock. Consequently, less cultural capital and cultural-goods stock will be accumulated. The efficient allocation can be restored by introducing an appropriate subsidy that stimulates the consumers? demand for cultural services, and the creation of new cultural goods, promotes the accumulation of cultural capital and cultural goods.

Resource author

Sao-Wen Cheng

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/23298

Resource license

Adapt according to the presented license agreement and reference the original author.