The Economy Of Prestige

This is a book about one of the great untold stories of modern cultural life: the remarkable ascendancy of prizes in literature and the arts. Such prizes and the competitions they crown are almost as old as the arts themselves, but their number and power--and their consequences for society and culture at large--have expanded to an unprecedented degree in our day. In a wide-ranging overview of this phenomenon, James F. English documents the dramatic rise of the awards industry and its complex role within what he describes as an economy of cultural prestige. Observing that cultural prizes in their modern form originate at the turn of the twentieth century with the institutional convergence of art and competitive spectator sports, English argues that they have in recent decades undergone an important shift--a more genuine and far-reaching globalization than what has occurred in the economy of material goods. Focusing on the cultural prize in its contemporary form, his book addresses itself broadly to the economic dimensions of culture, to the rules or logic of exchange in the market for what has come to be called "cultural capital." In the wild proliferation of prizes, English finds a key to transformations in the cultural field as a whole. And in the specific workings of prizes, their elaborate mechanics of nomination and election, presentation and acceptance, sponsorship, publicity, and scandal, he uncovers evidence of the new arrangements and relationships that have refigured that field.

This is a book about one of the great untold stories of modern cultural life: the remarkable ascendancy of prizes in literature and the arts. Such prizes and the competitions they crown are almost as old as the arts themselves, but their number and power--and their consequences for society and culture at large--have expanded to an unprecedented degree in our day. In a wide-ranging overview of this phenomenon, James F. English documents the dramatic rise of the awards industry and its complex role within what he describes as an economy of cultural prestige. Observing that cultural prizes in their modern form originate at the turn of the twentieth century with the institutional convergence of art and competitive spectator sports, English argues that they have in recent decades undergone an important shift--a more genuine and far-reaching globalization than what has occurred in the economy of material goods. Focusing on the cultural prize in its contemporary form, his book addresses itself broadly to the economic dimensions of culture, to the rules or logic of exchange in the market for what has come to be called "cultural capital." In the wild proliferation of prizes, English finds a key to transformations in the cultural field as a whole. And in the specific workings of prizes, their elaborate mechanics of nomination and election, presentation and acceptance, sponsorship, publicity, and scandal, he uncovers evidence of the new arrangements and relationships that have refigured that field.

This is a book about one of the great untold stories of modern cultural life: the remarkable ascendancy of prizes in literature and the arts. Such prizes and the competitions they crown are almost as old as the arts themselves, but their number and power--and their consequences for society and culture at large--have expanded to an unprecedented degree in our day. In a wide-ranging overview of this phenomenon, James F. English documents the dramatic rise of the awards industry and its complex role within what he describes as an economy of cultural prestige. Observing that cultural prizes in their modern form originate at the turn of the twentieth century with the institutional convergence of art and competitive spectator sports, English argues that they have in recent decades undergone an important shift--a more genuine and far-reaching globalization than what has occurred in the economy of material goods. Focusing on the cultural prize in its contemporary form, his book addresses itself broadly to the economic dimensions of culture, to the rules or logic of exchange in the market for what has come to be called "cultural capital." In the wild proliferation of prizes, English finds a key to transformations in the cultural field as a whole. And in the specific workings of prizes, their elaborate mechanics of nomination and election, presentation and acceptance, sponsorship, publicity, and scandal, he uncovers evidence of the new arrangements and relationships that have refigured that field.

This book explores the intersection between adaptation studies and what James F. English has called the “economy of prestige,” which includes formal prize culture as well as less tangible expressions such as canon formation, fandom, authorship, and performance. The chapters explore how prestige can affect many facets of the adaptation process, including selection, approach, and reception. The first section of this volume deals directly with cycles of influence involving prizes such as the Pulitzer, the Man Booker, and other major awards. The second section focuses on the juncture where adaptation, the canon, and awards culture meet, while the third considers alternative modes of locating and expressing prestige through adapted and adaptive intertexts. This book will be of interest to students and scholars of adaptation, cultural sociology, film, and literature.

If wars are costly and risky to both sides, why do they occur? Why engage in an arms race when it’s clear that increasing one’s own defense expenditures will only trigger a similar reaction by the other side, leaving both countries just as insecure—and considerably poorer? Just as people buy expensive things precisely because they are more expensive, because they offer the possibility of improved social status or prestige, so too do countries, argues Lilach Gilady. In The Price of Prestige, Gilady shows how many seemingly wasteful government expenditures that appear to contradict the laws of demand actually follow the pattern for what are known as Veblen goods, or positional goods for which demand increases alongside price, even when cheaper substitutes are readily available. From flashy space programs to costly weapons systems a country does not need and cannot maintain to foreign aid programs that offer little benefit to recipients, these conspicuous and strategically timed expenditures are intended to instill awe in the observer through their wasteful might. And underestimating the important social role of excess has serious policy implications. Increasing the cost of war, for example, may not always be an effective tool for preventing it, Gilady argues, nor does decreasing the cost of weapons and other technologies of war necessarily increase the potential for conflict, as shown by the case of a cheap fighter plane whose price tag drove consumers away. In today’s changing world, where there are high levels of uncertainty about the distribution of power, Gilady also offers a valuable way to predict which countries are most likely to be concerned about their position and therefore adopt costly, excessive policies.

Power, Profit and Prestige applies incisive historical and sociological analysis to make sense of the United States’ post-Cold War imperial behavior. Philip Golub studies imperial identity formation and shows how an embedded culture of force and expansion has shaped American foreign policy. He argues that the US logic of world power and deeply rooted assumptions about American primacy inhibits democratic transformation at domestic and international levels. This resistance to change may lead the US empire into a crisis of its own making. This enlightening book will be particularly useful to students of history and international relations as they explore a world where America is no longer able to set the global agenda.

At the start of the 18th century, literary "characters" referred as much to letters and typefaces as it did to persons in books. However, this text shows how, by the 19th century, readers used transactions with characters to accommodate themselves to newly-commercialized social relations.

By almost any measure, higher education is a vital part of the U.S. economy and society. Yet there is concern that the sector is inefficient or ill equipped to adapt to a changing environment. The information revolution, an aging population, demographic shifts, and a declining fiscal base all present it with major challenges.In Pursuit of Prestige describes the results of a two-year study of higher education in the United States designed to shed light on these issues. This volume examines higher education as an industry. It focuses on how institutions serve four identifiable markets that generate revenues (student enrollment, research funding, public fiscal support, and private giving). They analyze higher educational institutions' investment, pricing, and marketing behaviors, and the nature of competition among schools. They review the industry's basic conditions and market structure, then define the three key dimensions--degree level, scope, and resource allocation--by which institutions map out strategies for competing for markets.The heart of the book is an analysis showing how these strategies are carried out based on site-visit data from 26 highly diverse colleges and universities. This broad sampling covers all geographic regions of the country and every type of institution from elite research universities to community colleges. The authors then consider what strategies are possible in particular markets and how they affect students and competing institutions. Their conclusion draws out the implications of strategy and competition for the various customers of the U.S. higher education industry. Groundbreaking and genuinely exploratory in methodology.