aceUVi

Language and concepts
Within the history of Western thought, one might say that the literature reviewed
here seeks to merge two branches of philosophy: aesthetics (the study of beauty)
and axiology (the study of values). We do not trace the origins of these discourses
to their philosophical roots here. For readers interested in exploring the aesthetic
moorings of this discussion, Belfiore and Bennett (2007, 228-33) provide a
gateway into the aesthetic literature. Those interested in the axiological angle may
turn to Holbrook’s brief overview as an introduction and guide towards further
reading (1999, 3-4).
A common assumption in the frameworks discussed in the second chapter of this
review is that the value of arts and culture is created in the encounter between a
person (or multiple people) and an object (which may be tangible or intangible,
as in an idea or activity). In this view, value lies neither fully formed in the object,
nor is it entirely produced in the eye of the beholder—but is produced in the
encounter of the two. While the authors reviewed here share this point of view,
it is by no means universally accepted. For instance, Goldman (2006, cited in
Belfiore and Bennett 2007, note 11) argues that valuing art based on the experiences
it produces in fact devalues the work.
Our review starts with the work of two economists, Throsby (2001) and Klamer
(2004), who establish that arts and culture give rise to forms of value that cannot
be captured within the framework of mainstream, neo-classical economics. Both
Throsby and Klamer maintain that ‘cultural value’ cannot be expressed in the
same units of measurement as ‘economic value’. Indeed, the cultural value of an
experience may be lost if it is assessed in economic terms.
Other frameworks seek to broaden our understanding of the value and impacts
of arts and culture by calling attention to components that have previously been
overlooked. To provide analytical clarity, the authors propose various means of
Executive Summary 8
UNDERSTANDING the value and impacts of cultural experiences