Essay: The Economic Importance of the Art in Britain

Sample Essay

At this time, a book which was focused primarily on economic importance of art was published and attracted attention of people. As the government cut support for art from harsh economic situation with the reasons of ‘no economic value’, the book titled ‘The Economic Importance of the Arts in Britain’ which argued that the governmental support for art should continue since it has economic value refuting based on the economic efficiency[1].

John Myerscough, a proponent of art, wrote this book sponsored by Gulbenkian Foundation and the Arts Council with other scholars in this field[2].
In this book, he analyzed the trend of the common art support in western countries. Culture and art organizations would gradually depend more upon private supports while the subject of public support would also go from the central government to local councils. In this topic of the thread, the ideas of Myerscough took a position that the arts will be evaluated as value for money, as the economic standard and its significance. He asserted that the evaluation about the economical property of arts support is necessary by several classified reasons. Firstly, the arts promote the employment effect. According to his book, statistically the arts have 2.1% of direct creating employment of the total[3].

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