“The Price of Everything and the Value of Nothing!?” – What Cultural Capitalism Is and What It Cannot Be Accused of Being

Abstract The present paper is a defense of the free-market economy/capitalism as proper institutional setting for both producing and preserving cultural goods. We argue that culture best served by framework in which economic agents can evaluate their consumption production market order based on private property rights monetary prices. In this vein, we first put, contrast, two important lines thought subject value capital matters. On one hand, mainstream approach upholds “cultural value” intrinsic (and measurable) fourth type (namely capital”) be introduced theory. other using qualitative research methodology, deductive reasoning historical analysis, contrast mainstream/neoclassic view with praxeological Austrian School economics. conclude neither an objective fact, nor very concept capital” integrated coherently Yet, claim management goods superior to public administration, due (1) genuine interest owners rationally exploit according subjective preferences consumers, (2) inbuilt sustainability economy concerns efficient exploitation