Cultural Capital

Cultural capital describes the value of culture particularly when measured as an asset in terms of economic, social and environmental resources.

During my work and my interaction with a variety of cultures, I began using the phrase cultural capital to describe the cultural assets and liabilities of the groups in which I worked.

Examination of the phrase was necessary, so I researched the historic and current meanings of cultural capital. Originally, the phrase was linked to education, but later it began to be used by cities that were celebrating their arts. More recently, it has been used in relation to the ownership of cultural property and copyright by indigenous peoples, notably North American Indians and New Zealand's Maori. Business consultants have also applied the phrase to workplaces and behaviours within the cultures of industry. By following the use of the phrase I could recognise alternative meanings and start to apply the phrase to modern community development.

I devoted in my book on cultural well-being and cultural capital, extra time to understanding the concept of cultural capital. This was because I have needed to emphasise (particularly when dealing with local authorities) that there is a monetary outcome connected to culture and the arts as we are describing them. Hopefully this promotion of culture as an asset will encourage investment of time and resources towards the objective of cultural well-being.

Through this methodology we should be able to develop indicators of social, economic, environmental and cultural well-being, and prove the value of working with creativity and diversity. Calculating these indicators will be the task for the next decade, so that we can see the development associated with cultural well-being, not just technology or knowledge.

In my publication Cultural Well-being and Cultural Capital, I discuss development mechanisms that use Culture as an asset. Seminars and workshops apply this concept to the regional development situations.

Also see: Cultural Well-being And Cultural Capital and Transforming Economies by Building Cultural Capital, Recognising, developing and setting up creative dynamics that can transform economies