Date of Award
Bachelor of Arts
This paper explores a few core cultural economic theories such as Baumol’s Cost Disease and Crowding out/Crowding in effects, and it delves in the why, the how, and the how much of the public subsidy debate within economics. It asses all of these topics using an academic life cycle framework to determine if the field of cultural economics is mature enough to truly be giving recommendations to government. The author finds that there is conflict in terms of policy implication and a lack of data. Leading to the discovery that the field of Cultural Economics is not mature enough to be used in public policy debates.
Durrant, Terence, "IT Depends: The Maturity of Cultural Economics and Its Public Policy Debates" (2019). Economics Student Theses and Capstone Projects. 136.