The Political Economy of Business Bailouts

ment funding is further undercut in Chapter Ten. This chapter examines issues of equity and concludes that subsidies to the performing arts are, on balance, income regressive. Chapter Eleven offers West's policy conclusions. He is reluctant to call for cutbacks in government funding of the performing arts; however, he sees the evidence as strongly rejecting arguments for increased 'supply side' funding. Rather, West supports a change in policy direction from grants to artists and arts organizations to demand-side subsidies such as voucher systems. The notion that some degree of consumer sovereignty be introduced into the funding process is bound to be controversial; however, it is a notion that is overdue for implementation. Indeed, the basic view of too many arts administrators is that they are beyond accountability to mere taxpayers and most attenders. In light of fiscal restraint affecting other vital segments of society, this attitude is insufferably arrogant

Business · Economics · Market economy · Political economy · Political science · Politics · Cultural Industries and Urban Development