The rapidly changing and evolving art market might appear to be chaotic to the casual observer, with new highs, potential lows, and tastes and fashions changing season to season. Economists, however, view the actions of buyers and sellers as constituting an identifiable market. They have, for some decades, studied such issues as artistic productivity and "death effects" on prices, investment returns, and on the basis of the behavior and estimated prices in auction markets. The Economics of American Art analyzes the most pervasive economic issues facing the art world, applied to the whole spectrum of American art. The book begins by looking at how a market for American art developed, how the politics of the post-war era shaped, at least in large part, the direction of American art, and how this legacy continues into contemporary art today. The book then tackles several salient, integral questions animating the American art world: Are age and "type" of artist (i.e. traditional or "innovative") related and, if so, how might they be related to productivity? Is investment in American art a remunerative endeavor compared to other investment possibilities? Do economic insights provide understanding of fakes, fraud and theft of art, particularly American art, and is it possible to prevent art crime? Is there is a boom (or a bust) in the market for contemporary American art as might be found in other markets? The ongoing evolution of American art is attended by a massive number of influences, and the economic concepts employed in this volume will complement other critical and important cultural studies of art. Both practical and accessible, The Economics of American Art will be essential for collectors, auction houses, American art experts of all kinds, museums, gallery owners and, not least, by economists with continuing scholarly interests in these matters.

The Economics of American Art: Issues, Artists and Market Institutions

Arts & Photography

Tollison, Robert D.

Jackson, John D.

Ekelund, Jr. Robert B.

Business of Art

Oxford University Press

Without meaning to be irreverent, it is fair to say that in the Middle Ages, at the height of its political and economic power, the Roman Catholic Church functioned in part as a powerful and sophisticated corporation. The Church dealt in a "product" many consumers felt they had to have: the salvation of their immortal souls. The Pope served as its CEO, the College of Cardinals as its board of directors, bishoprics and monasteries as its franchises. And while the Church certainly had moral and social goals, this early antecedent to AT&amp;T and General Motors had economic motives and methods as well, seeking to maximize profits by eliminating competitors and extending its markets. In Sacred Trust: The Medieval Church as an Economic Firm, five highly respected economists advance the controversial argument that the story of the Roman Catholic Church in the Middle Ages is in large part a story of supply and demand. Without denying the centrality--or sincerity--of religious motives, the authors employ the tools of modern economics to analyze how the Church's objectives went well beyond the realm of the spiritual. They explore the myriad sources of the Church's wealth, including tithes and land rents, donations and bequests, judicial services and monastic agricultural production. And they present an in-depth look at the ways in which Church principles on marriage, usury, and crusade were revised as necessary to meet--and in many ways to create--the needs of a vast body of consumers. Along the way, the book raises and answers many intriguing questions. The authors explore the reasons behind the great crusades against the Moslems, probing beyond motives of pure idealism to highlight the Church's concern with revenues from tourism and the sale of relics threatened by Moslem encroachment in the holy lands. They examine the Church's involvement in the marriage market, revealing how the clergy filled their coffers by extracting fees for blessing or dissolving marital unions, for hearing marital disputes, and even for granting permission for blood relatives to wed. And they shed light on the concept of purgatory, showing how this "product innovation" developed by the Church in the twelfth century--a form of "deferred payment"--opened the floodgates for a fresh market in post-mortem atonement through payments on behalf of the deceased. Finally, the authors show how the cumulative costs that the faithful were asked to bear eventually priced the Roman Catholic church out of the market, paving the way for Protestant reformers like Martin Luther. A ground-breaking look at the growth and decline of the medieval Church, Sacred Trust demonstrates how economic reasoning can be used to cast light on the behavior of any complex historical institution. It offers rare insight into one of the great historical powers of Western civilization, in a analysis that will intrigue anyone interested in life in the Middle Ages, in church history, or in the influence of economic motives on historical events.

Sacred Trust: The Medieval Church as an Economic Firm

Business & Money

Ekelund, Robert B.

Hébert, Robert F.

Anderson, Gary M.

Davidson, Audrey B.

Davidson, Aubrey B.

Economics

Textbook brings economics to life for students with its compelling public choice approach. The authors' focus stretches beyond the theory of how ideal markets work to the actual arena of political decision-making, interest group influence, and government policies. DLC: Economics.

Economics: Private Markets and Public Choice (6th Edition)

Addison-Wesley

Acclaimed for its lucid presentation of basic microeconomic principles and rich array of real-world applications, the sixth edition of this classic text brings microeconomics to life for students with its compelling public choice approach. The authors' focus stretches beyond the theories of how ideal markets work to the actual arena of political decision-making, interest group influence, and government policies.

Microeconomics: Private Markets and Public Choice (6th Edition)

Acclaimed for its lucid presentation of basic macroeconomic principles and rich array of real-world applications, the sixth edition of this classic text brings macroeconomics to life for students with its compelling public choice approach. The authors' focus stretches beyond the theories of how ideal markets work to the actual arena of political decision-making, interest group influence, and government policies.

Macroeconomics: Private Markets and Public Choice (6th Edition)

Book by Ekelund, Robert B., Tollison, Robert D.

Economics: Private Markets and Public Choice

Longman Pub. Group

Microeconomics: Private Markets and Public Choice

Acclaimed for its lucid presentation of basic macroeconomic principles and rich array of real-world applications, the sixth edition of this classic text brings macroeconomics to life for students with its compelling public choice approach. The authors' focus stretches beyond the theories of how ideal markets work to the actual arena of political decision-making, interest group influence, and government policies.

Macroeconomics: Private Markets and Public Choice

Maximizing happiness means more than maximizing wealth, and yet many students assume economists only care about "the bottom line." "Economics: Private Markets and Public Choice emphasizes that economics is, at its base, about our society's well-being and our individual happiness in "all forms, not just profit. The authors teach students to apply economic concepts not only to key policy decisions like taxes, inflation, and free trade, but also to personal decisions such as household finance, marriage, and career choices.The Seventh Edition is enhanced by MyEconLab, the online homework system featuring automatically graded graphing problems and proven tutorial tools. Access to MyEconLab comes with every new textbook at no additional cost to the student.

See the best price to sell, buy, or rent books by Tollison, Robert D.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Tollison, Robert D.

See the best price to sell, buy, or rent books by Tollison, Robert D.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

The Economics of American Art: Issues, Artists and Market Institutions

Sacred Trust: The Medieval Church as an Economic Firm

Economics: Private Markets and Public Choice (6th Edition)

Microeconomics: Private Markets and Public Choice (6th Edition)

Macroeconomics: Private Markets and Public Choice (6th Edition)

Economics: Private Markets and Public Choice

Microeconomics: Private Markets and Public Choice

Macroeconomics: Private Markets and Public Choice

Economics: Private Markets and Public Choice

Microeconomics: Private Markets and Public Choice