Art economics: a new approach

This paper presents a new concept of art economics, here understood as an economics of the diffusion of artistic knowledge. Our thesis is that, in order to solve problems linked to public funding of the arts and to the efficiency of the culture industry, the economist has to set foot on the terrain of aesthetics and, with complete autonomy, has to build for himself a set of aesthetic variables to be applied to an industrial economic model. This implies that the art economist has to concern himself with art, which, paradoxically, contrasts markedly with the present economic tradition. The legitimation of the aesthetic variables selected occurs empirically, with reference to specific works of art, which the economist is able to evaluate by relying simply on his competence as an art consumer. Art economics, thus understood, has therefore a marked consumerist connotation. The art economist is a defender of art-consumer rights, which are presently trampled on by the inefficiency of the culture industry. This working paper forms part of the forthcoming publication: A. SPRANZI, Economics of the Arts. A New Approach to Art Economics, Unicopli-CUESP, Milano (cuesp@galactica. it).