CAPITALISM DEBASES ART

"Ask David Galenson to name the single greatest work of art from the 20th century, and he unhesitatingly answers “Les Demoiselles d’Avignon,” a 1907 painting by Picaso. He can then tell you with certainty Nos. 2, 3, 4, 5 and so on, as well. His confidence in the ranking doesn’t come from a stack of degrees in art history (though he has read a lot on the subject). After all, Mr. Galenson is an economist at the University of Chicago who initially specialized in colonial America. But during the past 10 years he has turned his attention to artists and creativity, convinced that the type of economic analysis that explains the $4-plus gas at the pump can also explain the greatest artists of the last 100 or so years. His statistical approach has led to what he says is a radically new interpretation of 20th-century art, one he is certain art historians will hate. It is based in part on how frequently an illustration of a work appears in textbooks. “Quantification has been almost totally absent from art history,” he said. “Art historians hate markets.” To Mr. Galenson markets are what make the 20th century completely different from other eras for art. In earlier periods artists created works for rich patrons generally in the court or the church, which functioned as a monopoly? Only in the 20th century did art enter the marketplace and become a commodity, like a stick of butter or an Hermès bag."
(New York Times, 4 August) RD