Heritage Economics

The third session of the lecture series ‘Urban Heritage Futures: Reimagination for Regeneration’ was held on 14th September 2022. The theme of the session was ‘Heritage Economics’. Prof. Andy Pratt (UNESCO Chair of Global Cultural Economy at City, University of London) and Dr. Champaka Rajagopal (Practitioner and Researcher in Urban Policy, Planning and Governance) delivered the lectures for the session.

Prof. Pratt provided an overview of the creative economy ecosystem and the role of heritage within it. He talked about the complexities, dilemmas, innovations and negotiations in the interpretation of heritage and in economic valuation methods. Positioning heritage as a cultural resource that leads to new cycles of interpretation and new cultures, he emphasized the need for circular economies for sustainable resource management.

Dr. Champaka Rajagopal’s presentation focused on the exploration of urban design methodologies in shaping place specific development frameworks for the informal economy of the Pete in Bengaluru. She provided deep insights into her research of the area.

Some of the topics included in the discussions with both the speakers were - cycles of cultural production and innovation, dialogue between multiple disciplines and stakeholders towards designing appropriate economic tools and models, and linkages between the informal and formal economies and their related regulations in urban systems.