Arts and expense risks
Due to informal barriers the arts are structured and partly monopolized, but the structuring is informal and difficult to discern. Informal monopolization causes a reduction in risks for artists in privileged areas, while risks are higher for artists outside these areas.
In the selected areas, average income, in the form of recognition and usually some money as well, is higher because many are excluded and numbers are relatively small. Therefore, competition is less intense. In these areas, there is a consolidated effort to support the reputations of artists.
(more…)