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Theory of cultural capital: Productive use of an unproductive activity

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  • Sam‐Ho Lee

Abstract

Cultural capital is the term suggested to explain the phenomena that seemingly productivity‐irrelevant cultural activities may lead to better economic outcome for individuals. A simple model is proposed to explain the emergence of cultural capital. The cost of acquiring a cultural attribute plays a role in the emergence of cultural capital. The importance of cultural capital is compared between two groups distinguished by a natural attribute. The cultural capital in the economically worse‐performing group is more elitist in the sense that a smaller proportion of individuals acquire it due to the higher attainment costs. Welfare implications are also investigated.

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  • Sam‐Ho Lee, 2023. "Theory of cultural capital: Productive use of an unproductive activity," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 25(2), pages 359-375, April.
    • Handle: RePEc:bla:jpbect:v:25:y:2023:i:2:p:359-375
    DOI: 10.1111/jpet.12623
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