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Cultural property and social business culture

A graduate thesis from LUISS University discusses the terms that regulate public and private action within an important realm of society

Cooperating for the good of a territory and the community which inhabits it. For some time now, we’ve seen the need for a new way of shaping relations between a region’s economic-productive dimension and its social-human one. Of course, whether this new approach is actually implemented is a whole different story. But there are certainly areas where progress can be made and these areas are at the core of Alice Di Giovine’s graduate thesis, recently defended at LUISS University (Department of Economics).
“Growth and value creation through conservation of cultural property. The role of private parties and the non-profit sector” is a neat and well-structured discussion on the relations between private initiatives, social entrepreneurship and the conservation of cultural heritage. The author has identified a thread linking various elements (government, private parties and culture) which, if properly managed and coordinated, could work in synergy with excellent results.
Her thesis begins with a thorough assessment of governmental actions within the realm of cultural heritage preservation, then examines the work of non-profit entities within that same area and their behaviour as businesses. Finally, the study delves into the role of foundations, which can act as support instruments for both the aforementioned parties (with an example from FAI, Italy’s national trust).
In Di Giovine’s own words: “The past few years have seen a tendency on the part of public institutions to give more and more leeway to private players. The non-profit sector has been especially involved, with numerous economic initiatives in support of cultural heritage sites. Many sites have thus been restored thanks to the efforts of experienced foundations, to the delight of tourists and citizens alike. Such initiatives can therefore be regarded as tools of social innovation applied to the management of our cultural heritage.” All in all, Di Giovine seems to also be advocating a different way of understanding the civic entrepreneurship culture. Indeed, she goes on to state: “It might be interesting to see this trend as the beginning of the end for the traditional welfare state, which is giving way to a ‘civic welfare’ in which the government, private entities and non-profits come together to provide services for the people. Therefore, this could be the dawn of a modern and innovative system, which opens its doors to direct citizen participation and administration of collective goods.”
This work by Alice Di Giovine may not introduce any ground-breaking theories, but it is a clear and exhaustive overview of the topic that helps make everything clearer.

“Growth and value creation through conservation of cultural property. The role of private parties and the non-profit sector”

Alice Di Giovine

LUISS University, Department of Economics Masters Degree in Economics and Management, 2018

Click here to download the pdf