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An Economic Theory of Avant‐Garde and Popular Art, or High and Low Culture
Author(s) -
Cowen Tyler,
Tabarrok Alexander
Publication year - 2000
Publication title -
southern economic journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.762
H-Index - 58
eISSN - 2325-8012
pISSN - 0038-4038
DOI - 10.1002/j.2325-8012.2000.tb00335.x
Subject(s) - affect (linguistics) , scope (computer science) , economics , avant garde , face (sociological concept) , capital (architecture) , labour economics , market economy , art , sociology , art history , visual arts , social science , communication , computer science , programming language
Artists face choices between the pecuniary benefits of selling to the market and the nonpecuniary benefits of creating to please their own tastes. We examine how changes in wages, lump‐sum income, and capital‐labor ratios affect the artist's pursuit of self‐satisfaction versus market sales. Using our model of labor supply, we consider the economic forces behind the high/low culture split, why some artistic media offer greater scope for the avant‐garde than others, why so many artists dislike the market, and how economic growth and taxation affect the quantity and form of different kinds of art.