Abstract
The purpose of the article is to reflect on economic valuation methods, their limitations, challenges, and potentials when it comes to understanding the value of cultural goods. In terms of cultural policy, the methods are interesting because they provide a monetary measure of the value of a cultural good for the entire population, which can be compared with the costs. However, the methods have their limitations, particularly because they are based on hypothetical answers and because they cannot necessarily measure all cultural value. The article points to three new research perspectives. Firstly, the inspiration from the economics of education could be enhanced, as cultural capital externalities are very similar to human capital externalities. Secondly, it could be investigated whether culture can better be understood as a "common good" than a “public good”, and thirdly, an extensive interdisciplinary research collaboration is necessary if we are to understand the values of culture.
Translated title of the contribution | Measuring the Economic Value of Culture for Society: Challenges and Potentials |
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Original language | Danish |
Journal | Økonomi og Politik |
Volume | 97 |
Issue number | 3 |
Pages (from-to) | 74–85 |
Number of pages | 12 |
ISSN | 0030-1906 |
Publication status | Published - Sept 2024 |