Cultural heritage is composed of built, moveable, intangible, and natural objects. Only a small proportion of their benefits are reflected in monetary form, but these are positive externalities. Not everything can be preserved, because this would block the further development of cities and regions. Many heritage goods have the property of a public good; people not paying a fee cannot be excluded from consumption. If the measured total benefits are superior to the total cost involved in keeping up a heritage object, a society is better off preserving it.
KeywordsBuilt heritage Moveable heritage Intangible heritage Natural heritage Preservation Public good World Heritage Sites Historical centres Use values Non-use values Government intervention
Pathbreaking contributions are
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- Klamer A, Throsby D (2000) Paying for the past: the economics of cultural heritage. World Culture Report. UNESCO, New York, pp 130–145Google Scholar
- Mossetto G, Vecco M (2001) Economia del patrimonio monumentale. F. Angeli, VeniceGoogle Scholar
- Peacock A (1998) Does the past have a future? The political economy of heritage. Institute of Economic Affairs, LondonGoogle Scholar