Does public financing of the arts matter?

Abstract

Public financing of the arts is a greatly discussed topic, maybe, even more in market economies. This article presents different perspectives about what it takes to finance the arts with public resources. Firstly, from an approach that justifies efficiency and the need of a sociably desirable and optimum market equilibrium with respect to art production. Secondly, from an approach that is centered in the content of the artworks and the importance of reassuring that these contents indeed exist, role that would correspond to government institutions. Finally, we can conclude that both perspectives aim to the same direction: reassuring art’s social dissemination. Consequently, both approaches are complementary or could be addressed in that way, especially in debates for budget allocation for the arts and culture.

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