Publisher's Synopsis
The book goes beyond the standard economic tools used to evaluate the effectiveness of arts in redevelopment processes. It assumes that the sectors involved in the process of arts-led community revitalization (artists, nonprofit organizations, government and for-profit firms) act upon the economic structure and initiate a resurgence path. This assumption allows us to study the political and economic interaction among these sectors, understand their incentives and define and explore their boundaries. Different from most economic studies, this book explores the 1) Cultural and regeneration reasons for revitalization; 2) sources of funds; 3) political interaction; 4) definition and estimation of output; 5) evaluation of output; 6) estimation of coefficients and multipliers effects obtained from input-output tables. The book provides answers to questions like 1) What is the role of nonprofit arts organization in economic redevelopment? 2) What cultural and socioeconomic conditions are needed for a successful arts-led redevelopment process to occur? 3) What sectors participate in this process? What are their incentives? Is there a clear division of their roles? How do they interact? Is there a time line for their activities? (i.e., are the arts nonprofit organizations bound to be gentrified out of their own artists colonies? 4) In terms of redevelopment, what is the output produced by nonprofit arts organizations? How can it be measured? At what cost is it obtained? How can it be evaluated? Does it have a ripple effect in the economy? How can this effect be measured?
