This classic study provides an extensive analysis of the major economic attributes of the performing arts: audience composition, costs, income, organizational structure and remuneration of performers. The authors cleady demonstrate why the cost per performance and per attendance has always risen faster than the economy's rate of inflation, and indicate this situation is unlikely to change in the future. The book concludes with a summary discussion of general policy implications.
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William J. Baumol is Professor of Economics at New York University and Director of the university's C. V. Starr Center for Applied Economics.
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