The 501(c)(3) model is critically dependent upon a capital market that is philanthropic rather than commercial in character, highly circumscribed in its operation, and in which investment decisions are not informed by the ‘rational self-interest’ of neo-classical economics.

Current Issues in International Cultural Policy

Philanthropy, cultural markets, the 501(c)(3) form of organization and its alternatives

This course is intended for arts managers, arts funders and policy makers, artists, researchers, teachers, sympathizers, and thinkers. It is designed to provide a deeper understanding of some of the most pressing issues affecting the arts in the United States and around the world. It also seeks to examine the implications for the cultural sector of the rapidly changing political, economic and social context in which policies affecting cultural provision are formed and executed

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Current Issues in International Cultural Policy