Posts

Culture Brings Prosperity, According to ifo Research Report

/in , /by

Key findings of cesifo research paper “Music in the Air: Estimating the Social Return to Cultural Amenities” include:

  • Culture is expensive but worth it: Expenditure on cultural institutions have a positive effect on income in the region
  • The ifo researchers understand their results as an argument supporting subsidies for cultural institutions
  • According to their research on opera houses it is unclear, however, whether a country as a whole benefits from investment into individual region’s cultural sector

The report is available for download, with a summary in English.

A comment in the SZ hence warns cities and municipalities to cut the culture budgets under the influence of current financial pressure: These cuts may seem quick and easy but could have devastating indirect effects.

Jean Tirole Awarded the Nobel Prize In Economics For His Work On Industrial Organisation

/in , , , /by

On October 13th Jean Tirole was awarded the Nobel prize in economics for his work on “industrial organisation”. Mr Tirole began publishing in the 1980s, when it quickly became clear that new, liberalised industries might not form perfectly competitive markets. He developed a novel way of thinking about the difficulties regulators face managing such markets. – Source: The Economist