The Economics of Looting and Destruction of Cultural Heritage Sites and Objects1

This study discusses a topic that is relatively understudied in economics: looting and destruction of cultural heritage sites and objects during epochs of violence. While economic literature on culture, cultural practices, and cultural institutions is long-standing, overlooked are the economic motivations for heritage (a material expression of culture) destruction, the economic consequences of the destruction, and potential policies for prevention from future destruction. Heritage objects during peace times turn into blood antiquities during violent conflicts. Illicit excavations in one country garnish museums in another. Covering a bird's-eye view of these topics, the study also highlights prospects for future economic research and reiterates a unique opportunity cultural heritage reconstruction may provide for reconciliation in post-conflict countries.