I'm really this paper on the arts and economy and came upon this. Pretty interesting.
Income and EducationEducation has become an increasingly important determinant of income over the past several decades. By one estimate, an additional year of education increased one’s annual income by three thousand dollars in 1980 and by nearly six thousand dollars in 2000.
Although winner-take-all markets have contributed to this increase, a variety of factors, including the declining importance of gender and race and rising educational qualifications for particular jobs, have also played a role.
Artists have followed this trend. In 1980 an artist with a college degree earned about 29 thousand dollars ($29,000) while one with a high school degree earned about four- thousand dollars less ($25,000). By 2000 the income of college-educated artists had increased to 40 thousand dollars ($40,000) while that of high-school educated artists had only increased to 29 thousand dollars ($29,000), an 11 thousand dollar ($11,000) gap. In 1980 an additional year of education translated to an increase of 1,321 dollars in annual income; by 2000 it was worth $4,369.
