Airstud
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Kevin Spacey's $29 Billion Claim

Wed Apr 13, 2011 7:45 am

I would guess that a lot of youse have already seen Kevin Spacey's Hardball interview regarding government funding of the arts. In it he claims that for every billion dollars (or was it 500 million) the government pours into arts, there is a 29 billion dollar return on the investment.

Does anyone have any idea where this information is coming from?

I happened across the link because a dear friend of mine - my best friend's mom in fact - posted it on Facebook. And there was no way I was ableto resist asking this. Which I suspect may have hurt her feelings; it is generally apparent about me on Fb that I am personus conservicus; though that was not all true about me when she and I last saw each other (1993).

So, I thought if there is in fact any hard data backing up this $29 billion claim of Spacey's, I could post a follow-up comment containing the data and urging her to include it in whatever pro-government-gafundage-of-the-arts treatises she is currently busy preparing.

Then it might at least be a little more unclear which side I'm on!  
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Aaron747
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RE: Kevin Spacey's $29 Billion Claim

Wed Apr 13, 2011 7:55 am

He doesn't even live in the US half the year and hasn't for a long time - what's he on about, exactly??
If you need someone to blame / throw a rock in the air / you'll hit someone guilty
 
ltbewr
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RE: Kevin Spacey's $29 Billion Claim

Wed Apr 13, 2011 11:08 am

The point Mr. Spacey is making is that Investment in the arts by governments in the proper way means employment and revenues to people and governments directly from the sites and from tourism and related industries.

In Washington DC, how many $100's of millions are gained in tourism by the subsidies in the art museums and Kennedy Center. Hotels, restaurants, taxis, souvenir sellers and in turn the pay for people who work at them as well as at the museums and arts centers, income taxes on their pay and sales tax incomes from all of those places, are there by the investment in the 'arts'.
 
Pyrex
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RE: Kevin Spacey's $29 Billion Claim

Wed Apr 13, 2011 12:44 pm

So, if the arts really have such a high return on investment (29x - Madoff himself would be proud), the fact that the government is pouring money into it, essentially crowding out private capital, is taking food off the table of one Mr. Kevin Spacey, no? This is the best argument I have ever seen NOT to fund artists with government money, thus not creating a condescending over-class of parasites.

Quoting ltbewr (Reply 2):
The point Mr. Spacey is making is that Investment in the arts by governments in the proper way means employment and revenues to people and governments directly from the sites and from tourism and related industries.

No matter how many times Keynesian economics is proven wrong you will always see Liberals making this ridiculous argument... fact is, government does not create jobs, never has, never will. Taking money under the threat of force to give some ditch-digger to dig and hole and cover it back up, or an "artist" to dunk a crucifix in a jar of urine and call it art (and call everyone else who doesn't think it's art "ignorant slobs") destroys jobs, does not create them.

Quoting ltbewr (Reply 2):
In Washington DC, how many $100's of millions are gained in tourism by the subsidies in the art museums and Kennedy Center. Hotels, restaurants, taxis, souvenir sellers and in turn the pay for people who work at them as well as at the museums and arts centers, income taxes on their pay and sales tax incomes from all of those places, are there by the investment in the 'arts'.

Oh, so you mean how many $100s of millions flow to the pockets of the residents of Washington D.C. at the expense of everybody else in the country?
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mt99
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RE: Kevin Spacey's $29 Billion Claim

Wed Apr 13, 2011 1:13 pm

Quoting Pyrex (Reply 3):
government does not create jobs, never has, never will.

NASA does create some pretty cool stuff that makes it out to the public.
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Klaus
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RE: Kevin Spacey's $29 Billion Claim

Thu Apr 14, 2011 7:54 am

Quoting Pyrex (Reply 3):
fact is, government does not create jobs, never has, never will.

That is clearly and obviously false, even if it may be counter to certain market-radical beliefs (which unfortunately have recently discredited themselves completely).
 
kiwiinoz
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RE: Kevin Spacey's $29 Billion Claim

Thu Apr 14, 2011 1:28 pm

Quoting Aaron747 (Reply 1):
He doesn't even live in the US half the year and hasn't for a long time - what's he on about, exactly??

Where does he live?

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