Economics of Visual Art
Market Practice and Market Resistance

An interdisciplinary microeconomics primer covering for-profit and non-profit institutions in the visual arts.

Amy Whitaker (Author)

9781108483421, Cambridge University Press

Hardback, published 12 August 2021

426 pages
23.5 x 15.7 x 2.2 cm, 0.78 kg

'Amy Whitaker is that rare person who understands both art and business, and how they interact. With this book she takes a deep dive into all aspects of the economics of art, from pricing to how art is legitimated, so enabling readers to better understand the structure of the market as well as more intangible notions, such as that of 'taste'.' Georgina Adam, Financial Times

How can arts managers, artists, and art market observers approach the study of economics? Accompanied by hand-drawn illustrations, wide-ranging case studies, and expansive discussion resources, this interdisciplinary microeconomics primer engages with complex – and, at turns, political – questions of value and resourcefulness with the artist or manager as the decision-maker and the gallery, museum or studio as 'the firm'. Whitaker arms the reader with analytic and creative tools that can be used in service to economic sustainability for artists and organizations. By exploring the complexities of economics in application to art, design and creative industries, this book offers ways to approach the larger world as an art project.

Preface
Introduction
1. Markets
2. Cost
3. Price
4. Structure
5. Failure
6. Power
7. Labor
8. Property
9. Investment
10. Systems.

Subject Areas: Management of specific areas [KJMV], Microeconomics [KCC], Economics, finance, business & management [K]