subject area 
university type - Switzerland  
university status  
Zürich, Switzerland

Art Market Studies

Language: EnglishStudies in English
Subject area: arts
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Art is a diverse range of human activities in creating visual, auditory or performing artifacts (artworks), expressing the author's imaginative or technical skill, intended to be appreciated for their beauty or emotional power. In their most general form these activities include the production of works of art, the criticism of art, the study of the history of art, and the aesthetic dissemination of art.
Market (economics)
The temple of art is built of words. Painting and sculpture and music are but the blazon of its windows, borrowing all their significance from the light, and suggestive only of the temple's uses.
Josiah Gilbert Holland, Plain Talks on Familiar Subjects, Art and Life. In Hoyt's New Cyclopedia Of Practical Quotations (1922), p. 43-45.
Economists' usual list begins with distribution of income. There is no reason to believe that the distribution of income that emerges out of market processes is desirable or acceptable. Unbridled market forces without any role of government might lead to a large number of people living under subsistence. This is an area for government to do something. We know that unbridled economic forces can lead to big booms and big recessions. We need to do something about that. We know that a market can lead to pollution -- and there's an important role for government there. We know that there will be under-investment in public goods. As we think about the innovation economy, we should remember that most of the innovation in the private sector is based on research financed by the government, such as its role in developing the Internet.
Joseph Stiglitz, on question "In what sphere of life, if any, do you think it most important to limit the influence of market forces?", in "Nobel Laureates Offer Views on the Economy", Wall Street Journal (Sept. 3, 2004)
The market does not exist in the pure state. It is shaped by the cultural configurations which define it and give it direction.
Pope Benedict XVI, Encyclical Letter Caritas in Veritate (29 June 2009), Chapter 36
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