On intangible cultural capital

In recent decades there has been a growing interest worldwide in the study of the relationship between various manifestations of culture and economic processes. Contrary to the reckless judgments of some researchers, culture is not universal or neutral, but diverse and has a direct and significant influence on the nature of organization and implementation of economic activity. Nevertheless, in spite the accumulation of numerous and irrefutable evidence of this, the integration of the concept of culture in some or other categorical forms into economic theory for one reason or another has not yet occurred. In characterizing the interaction of cultural and economic processes the author suggests broader use of the concept of cultural capital, similar in many of its “technical” parameters to other intangible capitals. Intangible cultural capital, defined as “habitual perceptions and values”, is a multi-layered and multidimensional phenomenon that contains not only stable and “strong” elements but also those amenable to change, susceptible to degradation and destruction, and therefore exhibits features both as a public good and as a common good.