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Journal of Cultural Economics

, Volume 23, Issue 1–2, pp 3–12 | Cite as

Cultural Capital

  • David Throsby
Article

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.

cultural capital cultural economics economic growth natural capital sustainability 

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Copyright information

© Kluwer Academic Publishers 1999

Authors and Affiliations

  • David Throsby
    • 1
  1. 1.Department of EconomicsMacquarie UniversitySydneyAustralia

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