Arts and culture encompass an umbrella category of creative endeavors that includes music, theater, poetry, architecture, visual art and dance among other artistic pursuits. Arts serve as the repository of collective memory in society while communicating ideas across time and space. Studies have revealed how art influences people’s opinions and fundamental sense of self; acting as an important bridge across boundaries such as ethnicity, class gender or distance.
Art is the embodiment of culture; it expresses beliefs, values, goals, and customs that define our way of life as peoples. Art can be an influential cultural force with the potential to shape minds and hearts – be it hand-carved musical instrument to digital movie. Arts and Culture industries contribute enormously to our economy ranging from small craft activities to multibillion dollar industries – yet its economic contribution often gets overlooked when compiling state or national accounts. Our new satellite account at BEA highlights all these contributions while tracking them and quantifying their contributions!
Arts and culture provide an insight into human experience while inspiring social change and leaving lasting legacies. This is especially evident when works aim to challenge assumptions or spark dialogue – such as many recent projects. From protest songs to performance art works, arts can leave an indelible mark and sometimes serve as catalysts for social movement or political reform.
Art is an integral component of all cultures, serving a range of social, religious, and economic functions. Although its processes of aesthetic appreciation may differ across cultures, their processes appear universal. Previous research has demonstrated this point through studies demonstrating people tending to prefer representational art over abstract in terms of representational vs abstract ratio, with cultural background impacting this preference further. Furthermore, aesthetic experiences like pleasure or sadness elicited by art may involve common brain circuitry pathways.
The new Satellite Account for Arts and Culture will help policymakers, businesses, analysts and others better comprehend its economic significance. It will provide a thorough picture of the industry, its impact on jobs and GDP, as well as areas for additional research and innovation. Doing so will ensure that all Americans can access arts and culture for its transformative power, ultimately enriching our lives and communities. For more information about this new report from BEA please visit their website. This report marks the third in a series of satellite accounts designed to highlight economically distinct sectors that may be difficult to capture through our core economic accounts. It is the result of collaboration between BEA and American Academy of Arts and Sciences.
