Hasan Bakhshi, Alan Freeman and Graham Hitchen, three leading commentators on cultural policy argue that, contrary to widespread belief, economics offers tools to ‘measure’ and validate the intrinsic value of art. Their paper published by MMM today seeks to transcend entrenched misunderstandings between economics and arts policymaking.
It proposes that these misunderstandings, which have long dogged discussion on arts funding in the UK, tend to manifest themselves in the long-running debate about ‘instrumental’ and ‘intrinsic’ approaches to public expenditure on culture and the arts. The authors argue that the reluctance to use rigorous economic methods has hindered rather than helped the case for the arts, and offer a provocative reconsideration of the outdated and poorly-informed prejudices which lie behind this reluctance.
They seek to demonstrate how economics can provide the tools to ‘measure’ and validate the intrinsic value of art, and to do so in a way which is commensurable with other measures of value for other calls on the public purse.
Clare Cooper and Roanne Dods, Co-Founders and Co-Directors of MMM said: “MMM aims to publish what we believe is the freshest thinking around on why we need to evolve the way we represent, organise and finance arts and cultural activity and how we can accelerate the change that needs to!happen. We are delighted to be able to offer a platform for this exceptionally well argued paper which we believe will inspire us to think afresh about one of the most passionately debated topics in the arts.”
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