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cultural good

An end product of the arts. Cultural goods are considered to be distinct from other goods and services owing to certain necessary features: they require some input of human creativity, possess or convey some symbolic meaning or message, and contain some form of real or potential intellectual property. Cultural goods also hold or give rise to a form of value that cannot be fully measured by the conventional economic assessment of market price. In the realm of artwork, for example, such value lies in the aesthetic or spiritual qualities of a particular piece. Cultural goods are further distinguished by their strongly heterogeneous nature. This means that they differ significantly from one another and that consumers will take the time to seek expert advice and compare items to find those of the highest quality. The style and features of such goods are considered more important than their price.

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The art economy

Category: Arts

Total terms: 7

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  • Michelle Wong
  • (Montreal - QC, Canada)

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