Cover -- Half-title -- Title -- Copyright -- Contents -- Preface -- Acknowledgements -- 1 Introduction -- Definitional issues -- Some qualifications -- Is economics culture-free? The cultural context of economics -- Culture as economy: the economic context of culture -- Individualism and collectivism -- Outline of the book -- Notes -- 2 Theories of value -- Introduction: why value? -- The theory of value in economics -- Economic valuation of cultural goods and services -- Individual consumption of private cultural goods -- Collective consumption of public cultural goods -- Cultural value -- Can economic value encompass cultural value? -- An application: the case of an art museum -- The economic value of an art museum -- Private goods -- Public goods -- Externalities -- The cultural value of an art museum -- Artworks -- The institutional setting -- The way ahead -- Conclusions -- Notes -- 3 Cultural capital and sustainability -- Introduction -- What is 'cultural capital'? -- Other usages of the term 'cultural capital' -- Parallels between cultural and natural capital -- Sustainability and cultural capital -- Material and non-material wellbeing -- Intergenerational equity and dynamic efficiency -- Intragenerational equity -- Maintenance of diversity -- Precautionary principle -- Maintenance of cultural systems and recognition of interdependence -- Conclusions -- Notes -- 4 Culture in economic development -- Introduction -- Culture in economic performance -- Culture in Third World development -- Culture, development and sustainability -- Conclusions -- Notes -- 5 Economic aspects of cultural heritage -- Introduction -- Definitional issues -- Heritage as cultural capital -- Cost-benefit analysis of heritage projects -- Economic evaluation methods -- Cost-benefit analysis and cultural value -- Cultural value of a heritage site.

Who determines cultural value? -- Measurement -- Sustainability in heritage management -- Policy issues -- Conclusions -- Notes -- 6 The economics of creativity -- Introduction -- Theories of creativity -- Creativity as a rational decision process -- A 'pure' creativity model -- An extended model introducing economic variables -- Income as constraint -- Income as joint maximand -- Income as sole maximand -- Multiple job-holding -- Value in the work of creative artists -- Creativity as an irrational process -- Conclusions -- Appendix: a model of artistic production -- Notes -- 7 Cultural industries -- Introduction -- Definition of the cultural industries -- The creative arts as an industry -- Demand for the arts -- Supply of the arts -- Technology -- Labour markets -- Goods markets -- Cultural industries in urban regeneration and regional growth -- Cultural industries in the economies of developing countries -- Cultural tourism -- Trade policy and the Cultural exception -- Conclusions -- Notes -- 8 Cultural policy -- Introduction -- Culture and the state: the economics of cultural policy -- Culture and the state: the politics of cultural policy -- Economic and cultural value in policy formation -- Conclusions -- Notes -- 9 Conclusions -- The historical moment -- Economics and culture: what have we learned? -- Epilogue -- Notes -- Bibliography -- Name index -- Subject index.