David Throsby (economist)

David Throsby is an Australian economist known for his work on the economics of culture and the arts. He emphasizes the importance of cultural industries in economic development and advocates for recognizing the economic value of cultural goods, such as art, music, and heritage. Throsby introduced the concept of "cultural capital," which refers to the non-economic value that culture contributes to society, enriching lives and fostering community identity. His research helps policymakers understand how to support cultural sectors and integrate them into broader economic strategies, highlighting their significance beyond mere financial measures.