“Imagine the most absurd and outrageous provocations about art that you can. For example: there is no such thing as a pure work of art; artists are unusually ill-informed; there is no market reward for good art; government subsidies make artists poor. Both defensive supporters of state funding and critical traditionalists will be muttering that art should not be viewed as an economic product or an investment. Both sides believe that art and money should be separated; the influence of money in the art market is deleterious to the production/appreciation of art. Yet how many of these assumptions are accurate and where is the economic evidence to back up these views?
Artist and social economist, Professor Hans Abbing has looked at the fine arts (encompassing dance, classical – not pop – music, opera and theatre but primarily concentrating on the visual fine arts) and sees an economy that does not function like any other. In Why Are Artists Poor? Abbing seeks to understand how this singular market operates, drawing on academic research and statistics and demonstrating through anecdotal examples. Some of Abbing’s findings make profoundly uncomfortable reading for people who accept many common assumptions about the arts. Here are Abbing’s main findings…”
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