Original scientific paper
MONUMENT ANNUITY AS ECONOMIC INSTRUMENT – FROM THEORY TO CROATIAN PRACTICE
Jadran Antolović
Marinko Škare
Abstract
An annuity is a payment for the use of a fixed resource, such as land, natural resources or in our case a cultural monument. The theory of annuities has been developed by numerous economic theorists, primarily examining land annuities, amongst them W. Petty, A. Smith, D. Ricardo, T. R. Malthus, K. Marx, P. A. Samuelson and others. Monument annuity, therefore, represents an irreplaceable economic instrument through which the economic value of the monument is asserted on the market. Through its functions the annuity enables the management of protected built heritage as well as the realization of the most important objective of protection, and that is not only the preservation of the monument value of built heritage but also the "wise use" of built heritage in economic development.
Keywords
monument annuity; economic value of the heritage; cultural heritage
Hrčak ID:
21491
URI
Publication date:
15.12.2006.
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