Cultural capital

David Throsby*

*Corresponding author for this work

Research output: Contribution to journalReview article

259 Citations (Scopus)

Abstract

Economists traditionally distinguish between three forms of capital: physical capital, human capital and natural capital. This paper proposes a fourth type of capital, cultural capital. An item of cultural capital is defined as an asset embodying cultural value. The paper considers usage of the term "cultural capital" in other discourses, notably sociology after Bourdieu, and contrasts these with the proposed usage in economics. The relationship between cultural and economic value, upon which the economic concept of cultural capital relies, is explored, and the possible implications of cultural capital for economic analysis discussed, including issues of growth, sustainability and investment appraisal. The paper concludes with some suggestions for further theoretical and empirical research.

Original languageEnglish
Pages (from-to)3-12
Number of pages10
JournalJournal of Cultural Economics
Volume23
Issue number1-2
Publication statusPublished - 1999

Keywords

  • Cultural capital
  • Cultural economics
  • Economic growth
  • Natural capital
  • Sustainability

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