The Economic Capital of Archaeology: Measurement and Management

Abstract

The economic aspects of archaeology are becoming increasingly emphasised by stakeholders inside and outside the discipline. However, archaeology is currently ill-equipped – conceptually and practically – to deal with the new demands this emphasis places. This research responds to that situation, develops and applies a new conceptual model fit to approach the use of archaeology as an economic asset, examines how archaeology’s ability to act as an economic asset attracts value, and considers how archaeologists can best understand economic ‘capital’. The thesis first examines current approaches to ‘value’ and ‘economics’ in cultural heritage management and cultural economics, identifying a damaging divide between the ‘cultural’ and the ‘economic’. A ‘Capital Model’ is developed, which focuses on how value is created for the public and emphasises the equality and interrelationship of economic, social and cultural benefits of archaeological sites and materials. This research then analyses how the ‘economic capital’ of archaeology is currently used to create value for stakeholders and the public. Drawing on perspectives from environmental resource management, it examines the approaches of international organisations, national governments (focusing on the UK), and local heritage tourism projects. This analysis highlights the necessity, and current lack of, data and methodologies to measure the economic capital of archaeology. Available methodologies are examined and applied to the case study of Feynan, Jordan. Data on the quantity and distribution of the economic impact of the local archaeology, and its interaction with other social and cultural values, is collected to inform management strategies. The case study demonstrates the importance of archaeologists understanding the economic capital of archaeology.

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