Who knew? The arts bring big bucks to the economy

[unhappycamper]

http://www.mcclatchydc.com/2013/12/05/210755/who-knew-the-arts-bring-big-bucks.html



Curator Lee Glazer, of the Freer Gallery of Art in Washington, is photographed Nov. 21, 2013, in the Peacock Room where two rare Bibles are on display through February 20, 2014.

Who knew? The arts bring big bucks to the economy
By Maria Recio
McClatchy Washington Bureau
December 5, 2013 Updated 12 hours ago

WASHINGTON — The value of the arts to the economy has always been an elusive figure – until now.

For the first time, the Bureau of Economic Analysis, part of the Commerce Department, has quantified art’s impact, finding in a study released Thursday that 3.2 percent – or $504 billion – of the gross domestic product in 2011 was attributable to arts and culture.

“The positive value of arts and culture on society has been understood on a human level for millennia,” said Commerce Secretary Penny Pritzker. “With this new effort, we are now able to quantify the impact of arts and culture on GDP for the very first time.”

The gross domestic product is the value of all the goods and services produced within a year and is used as a measure of economic health.

[Laelth]

1. k&r for the truth. n/t

-Laelth