Is Modern Finance Ruining Modern Art?

Illustration by Jordy van den Nieuwendijk

Very interesting article about finance and art by Marc C. Taylor (philosopher of religion and cultural critic):

„Art and money have always been inseparable. As Andy Warhol declared almost four decades ago, “Business art is the step that comes after Art.” During the past several decades, however, this relationship has been transformed by the appearance of a new form of capitalism: finance capitalism.

In previous forms of capitalism — agricultural, industrial and consumer — people made money by buying and selling labor and material goods; in finance capitalism, by contrast, wealth is created by circulating signs backed by nothing other than other signs. When investment becomes more speculative, the rate of circulation accelerates and the floating signifiers, which now constitute wealth, proliferate. (…) “

continue reading: bloomberg.com

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