If we have to descend to the level of the cynics who know the price of everything and the value of nothing, let’s not forget that the Louvre actually makes a substantial net profit for the French state – especially once one factors in the reality that people go to Paris to see the Mona Lisa and their presence there also supports local restaurants, hotels, cafes, etc.
“The Louvre’s impact on the French economy varies from €936 million to €1.157 billion. Tax receipts for the French state range from €119 million to €203 million, which may result in a change in its financial position of between €37 million to €82 million. The net number of jobs created varies from 10,292 under the most adverse scenario to 21,225 under the most favorable scenario. Lastly, if we look at the data in terms of averages, weighting the three options equally, we can conceive of the different types of impact as very favorable: an impact of €938 million, a net tax gain of €39 million, between 12,738 and 18,090 jobs created. The impact is therefore highly substantial in terms of public finances and employment, both of which play an essential role in current debates and sustainable development:
– The Louvre generates proceeds for the French state, in spite of the budgetary expenses (subsidies) and tax deductions (in consideration for sponsorship) it entails;
– The Louvre guarantees the existence of a significant number of jobs, at a very low cost for public finances at a time when employment is a major concern for political and economic agents.”
Well, I think that’s overly pessimistic; continental museums are opening up again right now; even some concerts will take place in Vienna next month. I expect major arts institutions, particularly in capital cities will survive. A goodly part of tourism all over Europe is motivated by museums, artistic events, and historic architecture, and I think most governments will see supporting that as a Keynesian investment. Private institutions funded by endowments will also presumably be OK. In the UK, we probably need to see museums and art galleries begin to charge admission fees, as they do everywhere else in the world (it’s inconsistent that they don’t in the first place; after all, I cheerfully stump up for a theatre ticket).
What will be clearly in serious trouble are the smaller and provincial institutions. I have no doubt the Royal Opera House will re-open, but I wonder about Opera North…
Fraser Bailey
3 years ago
Whatever… the size, reach and financial commitments and promises of the French state are so great that you could sell off all the artworks in France and it would only keep the show on the road for a few months at best. The same applies to more or less every other state in the west.
Stephen Follows
3 years ago
The other objection which you don’t raise is: who could possibly afford to pay £44.7 billion now, anyway?
If there is any private buyer who can afford it, then it raises serious questions about the imbalance between private and public wealth in the modern world. The state ought to be in a position to buy up private assets right now!
Fraser Bailey
3 years ago
They should take the money and replace the painting with a portrait of Macron. That will bring in the crowds.
Russell Hamilton
3 years ago
Reading the title of this excellent piece I couldn’t help thinking “What would the Mona Lisa be worth to Italy?’ but they won’t be getting it whatever they think of their Italian painter’s work being detained in Paris.
It raises the question of how the COVID-19 debt will be paid off. But we might as well as consider all debt because public and private debt is now so stupefyingly huge that it will kill any economic recovery. There’re only really two ways out, other than decades of stagnation, and that is a bit of hyperinflation, or some sort of debt jubilee. I don’t have any debt but I would rather go for the debt jubilee as the least injurious way out from under this suffocating debt.
Just for once, the French are entitled to the Mona Lisa. As the author noted, François I invited Leonardo to France and gave him a home, near Chenonceaux, I believe, where he spent his final years.
matthew hilton
3 years ago
Well, much as I admire the spirit and Gallic fire with which you defend your thesis and as an aficianodo of France Culture (the radio channel) smile at the way you slip in a reference to your book, there is no reason why the comfortable museumocrats and their crowds of smelly gaping sheep should be spared a Covid-19 shock or two. Turbulence is for everyone, n’est-ce pas?
If we have to descend to the level of the cynics who know the price of everything and the value of nothing, let’s not forget that the Louvre actually makes a substantial net profit for the French state – especially once one factors in the reality that people go to Paris to see the Mona Lisa and their presence there also supports local restaurants, hotels, cafes, etc.
http://www3.grips.ac.jp/~cu…
“The Louvre’s impact on the French economy varies from €936 million to €1.157 billion. Tax receipts for the French state range from €119 million to €203 million, which may result in a change in its financial position of between €37 million to €82 million. The net number of jobs created varies from 10,292 under the most adverse scenario to 21,225 under the most favorable scenario. Lastly, if we look at the data in terms of averages, weighting the three options equally, we can conceive of the different types of impact as very favorable: an impact of €938 million, a net tax gain of €39 million, between 12,738 and 18,090 jobs created. The impact is therefore highly substantial in terms of public finances and employment, both of which play an essential role in current debates and sustainable development:
– The Louvre generates proceeds for the French state, in spite of the budgetary expenses (subsidies) and tax deductions (in consideration for sponsorship) it entails;
– The Louvre guarantees the existence of a significant number of jobs, at a very low cost for public finances at a time when employment is a major concern for political and economic agents.”
Perhaps the British Museum should now follow the example of the Louvre?
Maybe, but I think we have to accept now that the arts, and especially the high arts, are completely finished now. We will never see them again.
Well, I think that’s overly pessimistic; continental museums are opening up again right now; even some concerts will take place in Vienna next month. I expect major arts institutions, particularly in capital cities will survive. A goodly part of tourism all over Europe is motivated by museums, artistic events, and historic architecture, and I think most governments will see supporting that as a Keynesian investment. Private institutions funded by endowments will also presumably be OK. In the UK, we probably need to see museums and art galleries begin to charge admission fees, as they do everywhere else in the world (it’s inconsistent that they don’t in the first place; after all, I cheerfully stump up for a theatre ticket).
What will be clearly in serious trouble are the smaller and provincial institutions. I have no doubt the Royal Opera House will re-open, but I wonder about Opera North…
Whatever… the size, reach and financial commitments and promises of the French state are so great that you could sell off all the artworks in France and it would only keep the show on the road for a few months at best. The same applies to more or less every other state in the west.
The other objection which you don’t raise is: who could possibly afford to pay £44.7 billion now, anyway?
If there is any private buyer who can afford it, then it raises serious questions about the imbalance between private and public wealth in the modern world. The state ought to be in a position to buy up private assets right now!
They should take the money and replace the painting with a portrait of Macron. That will bring in the crowds.
Reading the title of this excellent piece I couldn’t help thinking “What would the Mona Lisa be worth to Italy?’ but they won’t be getting it whatever they think of their Italian painter’s work being detained in Paris.
It raises the question of how the COVID-19 debt will be paid off. But we might as well as consider all debt because public and private debt is now so stupefyingly huge that it will kill any economic recovery. There’re only really two ways out, other than decades of stagnation, and that is a bit of hyperinflation, or some sort of debt jubilee. I don’t have any debt but I would rather go for the debt jubilee as the least injurious way out from under this suffocating debt.
Just for once, the French are entitled to the Mona Lisa. As the author noted, François I invited Leonardo to France and gave him a home, near Chenonceaux, I believe, where he spent his final years.
Well, much as I admire the spirit and Gallic fire with which you defend your thesis and as an aficianodo of France Culture (the radio channel) smile at the way you slip in a reference to your book, there is no reason why the comfortable museumocrats and their crowds of smelly gaping sheep should be spared a Covid-19 shock or two. Turbulence is for everyone, n’est-ce pas?