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Art and Value

Art’s Economic Exceptionalism in Classical, Neoclassical and Marxist Economics

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Dave Beech

Art and Value is the first comprehensive analysis of art's political economy throughout classical, neoclassical and Marxist economics. It provides a critical-historical survey of the theories of art's economic exceptionalism, of art as a merit good, and of the theories of art's commodification, the culture industry and real subsumption.
Key debates on the economics of art, from the high prices artworks fetch at auction, to the controversies over public subsidy of the arts, the 'cost disease' of artistic production, and neoliberal and post-Marxist theories of art's incorporation into capitalism, are examined in detail.
Subjecting mainstream and Marxist theories of art's economics to an exacting critique, the book concludes with a new Marxist theory of art's economic exceptionalism.

Between State and Market

Chinese Contemporary Art in the Post-Mao Era

Series:

Jane DeBevoise

Between State and Market: Chinese Contemporary Art in the Post-Mao Era examines the shift in the system of support for contemporary art in China between 1979 and 1993, from state patronage to the introduction of the market, and the hybrid space that developed in between. Today, soaring prices for contemporary art have triggered a debate about the deleterious effect of the market on art. Yet Jane DeBevoise argues that, in the post-Mao period, the imaginary of the marketplace was liberating, offering artists an alternative framework of legitimacy and support. Based on primary research, DeBevoise explores the entangled role of the state and the market, and how experimental artists and their champions in China negotiated to find a creative space between the two systems to produce and promote their work.