Economics of the arts and literature

Economics of the arts and literature is a way of understanding how money is connected to creating and enjoying books, movies, music, theater, painting, and other art. It helps us understand how people buy and sell works of art, who gets paid for their work and how much they get paid, and where the money comes from to make art possible. For example, a movie studio hires actors, writers, and directors to make movies and then the studio, TV companies, and movie theaters get money from people buying tickets and renting movies. All of this helps to create jobs and money for people who make art.