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Moral Maze

Price vs Value of Arts and Culture

Moral Maze

BBC

Society & Culture, Religion & Spirituality

4.4623 Ratings

🗓️ 27 June 2024

⏱️ 57 minutes

🧾️ Download transcript

Summary

Taylor Swift fever has swept the UK week. She’s back in August and fans have been paying hundreds sometimes thousands to get their hands on seats through resale sites. It’s led us to think about the price and value of art and culture. St Thomas Aquinas came up with the ‘just price’ theory, that it is wrong to sell something for more than it is worth and charging more based on the need of the buyer is exploitative and sinful. Is that what is going on when punters are asked to stump up for a once in a lifetime experience? In Latin the word pretium means both value and price, but the two are not interchangeable when it comes to the arts. How can you put a price on a potentially transcendent experience, or the life changing power of art? Is that what makes good art and is that what is worth paying for? Do live events culture have a value in itself aside from the economic impact? What does it mean for society when people are priced out? Should governments pick up the bill to make sure everyone has access to the arts. Or are they just an indulgence, a nice way to spend your leisure time but not something deserving of funds in comparison to global problems like poverty or malaria.

Presenter: Michael Buerk Panel: Inaya Folarin-Iman James Orr Professor Mona Siddiqui Matthew Taylor

Witnesses:

Christopher Snowdon, Head of Lifestyle Economics at the IEA Professor Mel Jordan, Professor of Art and the Public Sphere, Coventry University Matt Reardon, Advisor at 80,000 Hours Professor Paul Gough, Vice Chancellor of the Arts University Bournemouth

Presenter: Michael Buerk Producer: Catherine Murray Assistant Producer: Ruth Purser Programme Co-ordinator Nancy Bennie & Pete Liggins Editor: Tim Pemberton

Transcript

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0:00.0

BBC Sounds, Music, Radio, podcasts.

0:05.0

Good evening. Tickets to see Taylor Swift in London are apparently going on the resale market for over £4,500, which is marginally less heartbreaking for me than my granddaughters, obviously, but raises questions even more profound than her lyrics. The philosophically

0:22.6

snooty one is about the moral connection between price and value. St Thomas Aquinas taught

0:28.1

that raising prices to the limit demand will bear was exploitation, if not theft. Classically

0:33.8

liberal economists, on the other hand, argue that value can only be defined by what people are prepared to pay.

0:39.6

At root, it's an argument between fairness and deficiency.

0:43.0

The more immediate issue is whether access to culture, high and low, should be entirely dictated by the market.

0:49.3

And to what extent of at all, the art should be subsidised by the state.

0:53.5

A posh seat at Coven Garden can cost as much as

0:55.9

£245, even more for a really in-demand West End play. Glastonbury is £360 this year.

1:03.8

The more expensive premiership football season tickets are nudging £2,000. Should everybody have the

1:10.7

right to be entertained, perhaps uplifted?

1:13.7

Is there an economic case, an argument about national well-being,

1:18.0

a levelling up imperative for government funding of the arts?

1:21.8

If so, who decides what's art and what it's worth and how?

1:26.7

Aquinas v Swift, cost and value, and what price art.

1:30.6

Our moral maze tonight, the panel, Mona Siddiqui, professor of Islamic and inter-religious

1:34.5

studies at Edinburgh University, the commentator and campaigner, Inaya Fulharin Amman,

1:40.3

Matthew Taylor, Chief Executive of the NHS Confederation, and James Orr, Associate Professor of the Philosophy of Religion at Cambridge University, Mona, your cultural fix I have just learned, rather surprisingly, is Michael Jackson, not live, obviously. Is that a costly enthusiasm?

1:58.2

I don't know why you're surprised. I mean, no one can deny that Michael Jackson was a huge artist

2:02.5

and his legacy lives on.

2:04.8

Yes, he was a costly enterprise,

...

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