(8-17-10) In a recent Financial Times column, John Kay outlines the sometimes overlooked (or skewed) factors in determining the economic benefit of the arts. An excerpt:
But bad economics has been allowed to drive out good. I am sympathetic to the well-intentioned people who commission studies of economic benefit, though not to those who take money for carrying them out. They are responding to a climate in which philistine businessmen assert that the private sector company that manufactures pills is a wealth creator, but the public sector doctor who prescribes them is not.