October 3, 2011
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Just because top incomes in the arts exceed those in other professions does not mean that the average income of artists is also higher. On the contrary, evidence indicates that the average income among artists is lower than in comparable … Continue reading
September 26, 2011
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Why does the art that experts judge as inferior often sell so well in mass markets? In fact, it sells better than ‘quality art’. This is a common phenomenon in the mass markets of books, cds, films, and videos. For … Continue reading
September 26, 2011
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Who determines aesthetic value and market value? In discussing the controversy regarding the relationship between aesthetic and market values, it might be helpful to try to answer this question first. Who determines market value? As previously noted, in standard economics, … Continue reading
September 21, 2011
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There is no reward for good art in the market. And it’s not just artists and art lovers who go around saying this. The notion that artistic quality does not ‘pay’ permeates every level of society. The cleaning woman and … Continue reading
September 19, 2011
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How can artists and intermediaries who deny the economy make a living? Some evidently do. Anti-market behavior can be profitable. Sometimes, the more anti-commercial artists and intermediaries present themselves, the higher their status and incomes are. Such a-commercial attitudes don’t … Continue reading