The arts can play a vital role in revitalizing neighborhoods, using and improving vacant space, bringing new jobs and new sense of opportunity, and improving public safety by generating more foot traffic and more eyes on the street.
A useful analogy is to see traditional societies as relying on instantaneous (or minimally delayed) and constantly replenished solar income, while modern civilization is withdrawing accumulated solar capital at rates that will exhaust it in a tiny fraction of the time that was needed to create it.