StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Cultural centers in new economy and subsidies - Essay Example

Cite this document
Summary
In recent times, the term 'New Economy' has emerged. It is defined as the world in which individuals work on basis of their intelligence and mind, communication technology is responsible for controlling market, innovation is the key to survival and investment has the power and authority to acquire or devise new concepts…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95.6% of users find it useful
Cultural centers in new economy and subsidies
Read Text Preview

Extract of sample "Cultural centers in new economy and subsidies"

of the Cultural centers in New Economy and Subsidies Introduction In recent times, the term 'New Economy' has emerged. It is defined as the world in which individuals work on basis of their intelligence and mind, communication technology is responsible for controlling market, innovation is the key to survival and investment has the power and authority to acquire or devise new concepts (Baumol, 256). This description on the term demonstrates three essential things: advanced communication technology has revolutionized the business world, globalization has opened wider doors for economic development and individual skills and creativity are the important tools for individuals, in order to compete in the new economy.

Keeping this definition in mind, the new economic culture has also changed the cultural centers. This paper seeks to analyze the cultural centers of new economy in the lights of broad and diverse academic resources. Cultural Centers, New Economy and Subsidies Research suggests that information technology and globalization are the two dominant and influential factors which have changed the entire economy (Carnoy, 297). Before the advent of new economy, museums, galleries and cultural centers were popular because they were the wellsprings of art and creativity.

However, in recent times, these institutions have become abandoned, because creative art and work is now being displayed online (Reich, 159). In current times, museums are devising strategies and plans to display their collections online and increasing their production in order to ensure that their customers get to see new and innovative things every day. These centers of art and culture have successfully created an atmosphere for producing interesting work, which never reaches the real world.

Therefore, the high quality works, which should be displayed at museums, magazines, and other sphere of physical world, is now being digitalized (Porter, Alan and William, 148). At the same time, the emerging technologies and fierce global competition is forcing artists, designers, etc to meet these demands in order to meet the demands of the changing economy (Heartfield, 89). New Economy and its Impact on Museum and Creative Institutions Before the advent of the new economy and the concepts of mass production, the creative domain was restricted to a particular class: the elites (Howkins, 105).

At the same time, museums and creative institutions were means to generate revenues, which concentrated on targeting specific customers. At the same time, specific artists were selected and their works were displayed in these cultural institutions ( Heilbrun and Charles, 265) . Consequently, the general public never had any access to these masterpieces. However, the entire scenario changed in the twenty first century. With the development and advancement in communication technologies, museums and cultural institutions started targeting the general public.

Consequently, art and artists flourished. New Economy and Subsidies In the age of globalization and fierce competition, the massive production of arts has opened new doors for designers, artists, etc (Imparto, 98). It has successfully generated earnings, profits and job opportunities for them. In the twenty first century, arts have gained wider recognition and have attracted creative workers to improve their quality of life. At the same time, it has restored and revived several communities (Keat, 214).

Conclusion The new economy has successfully created new opportunities for creative art and artists. It has successfully covered a wider audience and has created job opportunities for several individuals. Work Cited: Baumol, William J. 2002. The Free-Market Innovation Machine: Analyzing the Growth Miracle of Capitalism. Princeton, NJ: Princeton University Press Carnoy, Martin. 2002. Sustaining the New Economy: Work, Family, and Community in the Information Age. Cambridge: Harvard University Press. . Howkins, John. 2001. The Creative Economy: How People Make Money from Ideas.

London: Allen Lane. Porter, Alan L. and William H. Read (eds.). 1998. The Information Revo-lution. Greenwich, Conn: Ablex Publishing. Reich, Robert. 2001. The Future of Success: Working and Living in the New Economy. New York: Vintage. Heartfield, James. 2000. "Great Expectations: The Creative Industries in the New Economy." Design Agenda. Heilbrun, James and Charles M. Gray. 2001. The Economics of Art and Culture. New York: Cambridge University Press, 2 edition. Imparto, Nicholas (ed.). 1999. Capital for our Time: The Economic, Legaland Management Challenges of Intellectual Capital.

Stanford, CA: Hoover Institution Press. Inozemtsev, Vladislav. 1999. "Work, Creativity, and the Economy." Society36:45-54. Keat, Russell. 2000. Cultural Goods and the Limits of the Market. New York: St. Martin's Press.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Cultural centers in new economy and subsidies Essay”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1519634-cultural-centers-in-new-economy-and-subsidies
(Cultural Centers in New Economy and Subsidies Essay)
https://studentshare.org/macro-microeconomics/1519634-cultural-centers-in-new-economy-and-subsidies.
“Cultural Centers in New Economy and Subsidies Essay”, n.d. https://studentshare.org/macro-microeconomics/1519634-cultural-centers-in-new-economy-and-subsidies.
  • Cited: 0 times

CHECK THESE SAMPLES OF Cultural centers in new economy and subsidies

Fast Food Nation by Erick Schlosser

These times saw the country experience an economic boom that led to massive gains on all fronts of the economy.... This led to urbanization, which was characterized by people moving from rural areas to urban centers where there were job opportunities.... Name: Instructor: Course: Date: Fast Food Nation....
6 Pages (1500 words) Essay

International Economics

However, carpet production centers on the individualistic skills and knowledge of a weaver rather than collective appreciation of carpet making acquired through formal education and training.... Due to immediacy to furnishing product, several carpet manufacturing centers have developed across the country.... Social and cultural characteristics also impact the production techniques since the stock of trust among Indians facilitates the maintenance of socially held knowledge that, in turn, allows the social organization of the economic activity of carpet making....
5 Pages (1250 words) Essay

Impacts of Poverty to Society

Ultimately, such governments have to seek for grants from other countries or by increasing domestic taxes thus exerting more pressure on their economy.... Running head: economic policy recommendation 28th November 2013 Introduction One of the notable social issues that are affecting the economic development of any country is poverty....
7 Pages (1750 words) Research Paper

Chinese Popular Culture

The middle class can afford apartments in urban centers.... This essay is focused on the impact of wealth distribution on Chinese people.... The author stresses that in China, the discrepancy of wealth distribution is a living fact.... It is among the countries with the highest discrepancies in social stratification and the distribution of wealth amongst its people....
7 Pages (1750 words) Essay

Features of Post-Communist Transformation since 1989

With their new found independence, the former communist countries have become free to change the course of their own development, highly expectant of the promised prosperity by the West which confidently proclaimed this event as the triumph of capitalism over socialism.... The fall of communism, as signified by the dramatic fall of the Berlin Wall (the old symbol of the cold war schism in Europe) on December, 1989, and the disintegration of the once feared Soviet Union (the largest country in the world in terms of land area) on December, 1991, has… The once seemingly indestructible ideological divide between the democratic capitalist west and the authoritarian communist east has finally come to a close....
11 Pages (2750 words) Essay

The Financial Aspects of Governmental Stadium Subsidies in the United States

This assignment provides an in-depth analysis of the positive and negative aspects of the use of governmental stadium subsidies in the United States.... The writer attempts to argue the budget allocation by the US government in regard to subsidies for building professional sports facilities.... Having a professional sports team in a city is good for the local economy since sports-related activities spur the internal economy of the nearby neighborhoods where stadiums are located....
6 Pages (1500 words) Assignment

Sustainability Challenges Associated with Urban Dynamics

subsidies on automobiles play a critical role in the spreading of urban sprawl.... The table that follows gives subsidies for the years 1983 according to the value of the dollar in 1987, Madison, Wisconsin....   Though the statistics date back to more than a decade ago, the subsidies for automobile users imply that people found it easy to own and maintain vehicles, and thus suburbs grew rapidly.... nbsp;… In the paper, we will note the current state in urban sprawls and the factors driving this sustainability challenge in the urban centers....
5 Pages (1250 words) Essay

Geography of Latin America

The policy suggests that the governments reduce arrears, maximize subsidies, improve tax law to make wider the tax base, get rid of fixed exchange rates, open up markets to trade by preventive protectionism, privatize the state-owned businesses, permit private possessions and back deregulation.... Good labor regulation policies are very important in extinguishing dangers related to jobs in different sectors of the economy of the individual countries.... nbsp; The concept was that the ISI would encourage a process of learning driven by experience to new ideas and processes that would dynamically spill out over into the whole financial system....
6 Pages (1500 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us