ECONOMISTS TALK ART WISHES YOU A HAPPY HOLIDAY AND A WONDERFUL NEW 2023

By the Editorial Team

As the 2022 comes to a close, we reflect on the economic trends and developments that have shaped the arts and culture sector in the past 12 months and consider how they might influence the upcoming 2023.

CULTURAL EXPENDITURE OF THOSE WHO ENTER (OR EXIT) UNEMPLOYMENT

By Javier Gardeazabal & Eduardo Polo-Muro

The 2003 Spanish Academy award winning film Mondays in the sun portraits the daily lives of three men who were laid off from the local shipyard. Directed by Fernando León de Aranoa and starring Javier Bardem, Luis Tosar and José Ángel Egido, this social drama gem exemplifies how unemployment can affect individuals and their families. In our paper “Cultural expenditure of those who enter (or exit) unemployment”, we assess the impact of transitions from employment to unemployment on household expenditure on cultural goods and services.

MUSIC PREFERENCES AS AN INSTRUMENT OF EMOTIONAL SELF-REGULATION ALONG THE BUSINESS CYCLE

By Juan de Lucio & Marco Palomeque

We listen to music every day. It is our companion when we travel and enhances the emotions of our favourite movie scenes. Whilst it may act as the life and soul of a party, music can also accompany us in our gloomier moments. At any point of time, we choose what music matches our mood. In this study, we explore how musical preferences change when macroeconomic conditions change. The results show that musical preferences adapt to smooth out fluctuations in social welfare (SWB) related to business cycles; for example, society prefers positive music in recessions.

COMPARATIVE STUDY OF EUROPEAN POLICIES FOR ETHICAL MUSEUM FUNDRAISING

By Marek Prokůpek and Marie Ballarini

In this comparative study, European policies and models of government support and regulation related to fundraising and philanthropic activities towards museums were mapped out. Results are particularly salient in view of increased corporate penetration into the museum sector. Analysis tackles ethical issues surrounding state funding, public subsidy and private sponsorship by companies which stirs tensions between museums and their constituent communities. 

THE VALUE-BASED APPROACH TO ECONOMICS WORKSHOP

By Valeria Morea and YounSun (Rosa) Won

The Third Value-Based Approach to Economics Workshop organized by University IUAV of Venice and Stichting Economie en Cultuur (SEC foundation) took place on 16 and 17 September 2022 in Venice, Italy. The 4 panels and 2 round table sessions included 22 presentations on the topics: Practices in Cities, Humane Economy, Evaluation of Culture and the Arts, and A New Approach to Cultural Policy.

CREATIVE INDUSTRIES AND DIGITAL TRANSFORMATION IN CHINA

By Sabine Chrétien-Ichikawa

“Creative Industries and Digital Transformation in China” is an insiders’ view written by European researchers based in Shanghai city, witnessing the impact of digitalization on five sectors: calligraphy, design, fashion, gaming, the media industries and the visual arts. Living and working in China enabled us to be at the forefront of social and cultural changes of the last decade and to sense future trends in the making.