Why Art?

Economic language and ideas have increasingly found their way into discussions of artistic value and cultural benefit. For better or for worse, the discipline of economics has been the lingua franca of public policy discourse for at least the past fifty years. Sometimes the terms resonate harshly on our ears. How do people in the world of arts and culture answer those who speak this language, who try to value cultural activity in terms of economic multipliers, cost-benefit analysis, quantitative outcome measures and, a current favorite, contingent valuation methodology?