Market and Con-temporary Art

This interesting book on "the curious economics of contemporary art" has just been published in Spanish. Written by an economist, professor Donald Thompson, is a good example of the theoretical benefits of joining art and economy.

As it always happens when aesthetic matters are involved, there are several ways of considering the central theme of the book: one, the amazing and crazy market of contemporary art. Another, market itself tends to be criticized when considered in art's world.

As every version of it art market has been de-regulated in the last two decades. One of the main expressions of this is the almost total disappearance of art criticism: except Robert Hudges, who considers brand-art pieces as "simple minded" works addressed to "business big-shots", art critics have been replaced by docile journalists that produce the "blither and rubbish" necessary for the "fatuity of art-world greed" (Hudges).

In architectural realm the situation is even worse, I am affraid: no respected critic has had the courage of denouncing brand-architecture and, which is more harmful in the long run, this whole situation has already contaminated architectural education. Today students of some of the best architecture schools in USA do not know who are Arnee Jacobsen, Utzon or Niemeyer, but they are saturated by con-temporay brand-architecture (temporary meaning that it is not going to last in time). The problem is that painting or sculpture can be hidden in a wardrobe, but architecture always involves public space and/or public money.

Do not miss the video with Hudges's critique on Hirst's work and the business of art: