In a recent publication, Professor Nikos Panagiotopoulos from the National and Kapodistrian University of Athens introduces a groundbreaking methodology for objectifying, measuring, and demonstrating the economic impact of culture. His book, titled 'Economy & Society: For a Culture Economy,' explores the paradox that, despite political rhetoric, culture remains an underutilized component of economic development in Greece. Through the identification of specific indicators and the establishment of institutions, Panagiotopoulos seeks to answer how cultural capital can be evaluated and leveraged as a developmental asset.

Panagiotopoulos's innovative measurement model aims to shift the perception of culture from a mere romantic addition to the economy to a vital factor for national development. His proposal includes the creation of a National Cultural Capital Observatory, which would facilitate the comprehensive management of cultural resources, encouraging better integration of culture into economic strategies. This observatory would not only provide data but also support policies that recognize the intrinsic value of cultural assets in driving economic and social growth.

The implications of this work are significant, as it suggests that acknowledging and quantifying cultural contributions can foster an environment where culture is seen not just as an expenditure but as a core element of sustainable development. By advocating for cultural capital as a measure of national wealth, Panagiotopoulos positions cultural investment as a strategic necessity for holistic national advancement, potentially reshaping how policymakers view and fund cultural initiatives across Greece.