Cultural economics is a branch of economics that studies the creation, distribution, and consumption of art, literature, and other cultural products, a field that broadened from visual and performing arts in the Anglo-Saxon tradition to encompass cultural industries like cinema and publishing since the 1980s. These goods are unique, valued for their symbolic content rather than physical characteristics, and famous artworks like the Mona Lisa are singular and non-substitutable, posing challenges for traditional economic valuation. A pivotal contribution by Baumol and Bowen in 1966 introduced the concept of "cost disease," explaining the inherent relative cost growth in live performing arts. This phenomenon arises because live performances remain labor-intensive and cannot achieve the same productivity gains as other sectors, leading to their increasing dependency on state subsidies.