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The Economy of Culture. The Sochi (Russian-Austrian) Dialogue

The Economy of Culture. The Sochi (Russian-Austrian) Dialogue

Summary

In the modern world, the possibilities of achieving sustainable rates of social development are not limited only to economic incentives. Modern economists and public figures agree that it is largely not economic policy or the use of traditional regulatory tools that are the key factors that ensure the long-term success of national economies. There are a number of factors that have long remained outside the traditional paradigm, and one of the most important of these factors is the area of production and distribution of cultural goods and values, since cultural aspects are crucial in shaping the behavior of economic agents in any society. There are a number of important questions in the field of cultural economics: how does culture interact with the economy and how do we make this interaction effective? What is the role of state institutions in regulating economic relations in the field of culture? How does the cultural economy influence the development of individual territories, how can individual regions use the cultural phenomena that have historically developed in them to improve the quality of the economy? How important is the role of business in cultural development, and how much influence does the cultural environment have on business? What forms of international cultural cooperation can be used to improve the investment climate and achieve sustainable economic growth, to what extent can the dialogue of cultures improve economic interactions between national economies?

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