The Economy of Prestige

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Harvard University Press, 2005 - Art - 409 pages

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.


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The economy of prestige: prizes, awards, and the circulation of cultural value

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Examining film and literary prizes' geneses, history and the hoopla that accompanies them, English parses the many ways awards and award ceremonies have become an institutionalized "game" that relies ... Read full review


Prizes and the Study of Culture
Prize Frenzy
Precursors of the Modern Cultural Prize
The Logic of Proliferation
Prizes as Entertainment
The Making of a Prize
Taste Management
Trophies as Objects of Production and Trade
Strategies of Condescension Styles of Play
The Arts as International Sport
The New Geography of Prestige
Prizes and the Politics of World Culture
Appendix A The Rise of the Prize 3
Appendix B Prizes and Commerce 3 29

Scandalous Currency
The New Rhetoric of Prize Commentary

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About the author (2005)

James F. English is Professor and Chair of the English Department at the University of Pennsylvania. He is the author of "Comic Transactions: Literature, Humor, and the Politics of Community in Twentieth-Century Britain" (1994) and "The Economy of Prestige: Prizes, Awards, and the Circulation of Cultural Value" (2005).

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