Saturday, June 02, 2012

1% Art

"...recent economic research has established a direct connection between skyrocketing art prices and income inequality, showing that “a one percentage point increase in the share of total income earned by the top 0.1% triggers an increase in art prices of about 14 percent.” It is now painfully obvious that what has been extraordinarily good for the art world over the past decades has been disastrous for the rest of the world."