Hostname: page-component-cd9895bd7-hc48f Total loading time: 0 Render date: 2024-12-27T13:39:01.642Z Has data issue: false hasContentIssue false

Art and money: Three aesthetic strategies in an age of financialisation

Published online by Cambridge University Press:  09 November 2023

Max Haiven*
Affiliation:
Nova Scotia College of Art and Design, Canada
*
Corresponding author: Max Haiven, Nova Scotia College of Art and Design, 5163 Duke Street, Halifax, NS B3J 3J6, Canada. Email: [email protected]
Rights & Permissions [Opens in a new window]

Abstract

Core share and HTML view are not available for this content. However, as you have access to this content, a full PDF is available via the ‘Save PDF’ action button.

Recent decades of financialisation have seen a significant growth in art that mobilises various forms of money as artistic media. These range from the integration of material money (coins, bills, credit cards) into aesthetic processes, such as sculpture, painting, performance, and so on, to a preoccupation with more ephemeral thematics including debt, economics, and the dynamics of the art market. This article explores three (and a half) strategies that artists use to engage with money: crass opportunism; a stark revelation of money's power; a coy play with art's subjugation to money; and a more profound attempt to reveal the shared labour at the heart of both money and art's aesthetic-political power. Money's perennial appeal to artists stems from the irony of its tantalising capacity to almost represent capitalist totality. At their core, both money and art are animated by a certain creative labour, a suspension of disbelief, and a politics of representation. Artistic practices that use money can provide critical resources for studying, understanding, and seeing beyond the rule of speculative capital.

Type
Article
Creative Commons
Creative Common License - CCCreative Common License - BYCreative Common License - NCCreative Common License - ND
This is an Open Access article, distributed under the terms of the Creative Commons Attribution-NonCommercial-No Derivatives licence (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits noncommercial re-use, distribution, and reproduction in any medium, provided the original work is unaltered and is properly cited. The written permission of Cambridge University Press must be obtained for commercial re-use or in order to create a derivative work.
Copyright
© 2015 The Author(s)

References

Anderson, P. (1998) The Origins of Postmodernity. New York: Verso.Google Scholar
Appadurai, A. (2012) The Spirit of Calculation. Cambridge Anthropology, 30(1): 317.Google Scholar
Berardi, F.B. (2012) Emancipation of the Sign: Poetry and Finance During the Twentieth Century. e-flux, 39(11).Google Scholar
Bourdieu, P. (1993) The Field of Cultural Production: Essays on Art and Literature. New York: Columbia University Press.Google Scholar
Bourdieu, P. (2005) The Social Structures of the Economy. Cambridge: Polity.Google Scholar
Bürger, P. (1984) Theory of the Avant-Garde. Minneapolis: University of Minnesota Press.Google Scholar
Caffentzis, G. (1989) Clipped Coins, Abused Words, and Civil Government: John Locke's Philosophy of Money. Brooklyn: Autonomedia.Google Scholar
Caffentzis, G. (2013) The Power of Money: Debt and Enclosure. In: In Letters of Blood and Fire: Work, Machines, and the Crisis of Capitalism. Brooklyn: Autonomedia, 236–40.Google Scholar
Cleaver, H. (2000) Reading Capital Politically. San Francisco: AK Press.Google Scholar
Foucault, M. (1979) Discipline and Punish: The Birth of the Prison. New York: Vintage.Google Scholar
Fraser, A. (2012) There's No Place Like Home / L’1% C'est Moi. Continent, 2(3): 186201.Google Scholar
Graeber, D. (2001) Toward and Anthropological Theory of Value: The False Coin of Our Own Dreams. New York: Palgrave.Google Scholar
Groys, B. (2011) Art and Money. e-Flux, 24(4).Google Scholar
Haacke, H. (1984) Museums, Managers of Consciousness + Art as Industry. Art in America, 72(2): 917.Google Scholar
Haiven, M. (2014) Cultures of Financialization: Fictitious Capital in Popular Culture and Everyday Life. Basingstoke: Palgrave Macmillan.Google Scholar
Harvey, D. (1990) The Condition of Postmodernity: An Enquiry into the Origins of Cultural Change. Oxford: Blackwell.Google Scholar
Holmes, B. (2007) The Speculative Performance: Art's Financial Futures. European Institute for Progressive Cultural Policies, January. Available at: <http://eipcp.net/transversal/0507/holmes/en/>. Accessed 30 October 2012.. Accessed 30 October 2012.' href=https://scholar.google.com/scholar?q=Holmes,+B.+(2007)+The+Speculative+Performance:+Art's+Financial+Futures.+European+Institute+for+Progressive+Cultural+Policies,+January.+Available+at:+.+Accessed+30+October+2012.>Google Scholar
Horowitz, N. (2011a) Comment on ‘Financialization of Art’ (by Mark C. Taylor). Capitalism and Society, 6(2): 18.Google Scholar
Horowitz, N. (2011b) Art of the Deal: Contemporary Art in a Global Financial Market. Princeton: Princeton University Press.Google Scholar
Jameson, F. (1981) The Political Unconscious. Ithaca: Cornell University Press.Google Scholar
Jameson, F. (1990) Cognitive Mapping. In: Nelson, C. and Grossberg, L. (eds.) Marxism and the Interpretation of Culture. Chicago: University of Illinois Press, 347–60.Google Scholar
Jameson, F. (1991) Postmodernism, Or the Cultural Logic of Late Capitalism. Durham: Duke University Press.Google Scholar
Jameson, F. (2011) Representing Capital: A Reading of Volume One. New York: Verso.Google Scholar
Kruger, B. and Phillips, L. (2005) Money Talks. New York: Skarstedt Fine Art.Google Scholar
La Berge, L.C. (2013) The Rules of Abstraction: Methods and Discourses of Finance. Radical History Review, 118: 93112.Google Scholar
Lapavitsas, C. (1999) Political Economy of Money and Finance. Basingstoke: Macmillan.Google Scholar
Lindemann, A. (2006) Collecting Contemporary Art. Cologne: Taschen.Google Scholar
LiPuma, E. and Lee, B. (2004) Financial Derivatives and the Globalization of Risk. Durham: Duke University Press.Google Scholar
Mackenzie, D. (2006) An Engine, Not a Camera: How Financial Models Shape Markets. Cambridge: MIT Press.Google Scholar
Marazzi, C. (2008) Capital and Language: From the New Economy to the War Economy. New York: Semiotext(e).Google Scholar
Marazzi, C. (2010) The Violence of Financial Capitalism. Los Angeles: Semiotext(e).Google Scholar
Marcuse, H. (1978) The Aesthetic Dimension: Towards a Critique of Marxist Aesthetics. Boston: Beacon.Google Scholar
Marx, K. (1964) The Economic and Philosophical Manuscripts of 1844. New York: International.Google Scholar
McMurtry, J. (2002) Value Wars: The Global Market Versus the Life Economy. London: Pluto Press.Google Scholar
McRobbie, A. (2001) ‘Everyone is Creative’: Artists as New Economy Pioneers? Open Democracy, 29 August. Available at: <http://www.opendemocracy.net/node/652/>. Accessed 16 October 2012..+Accessed+16+October+2012.>Google Scholar
McRobbie, A. (2011) The Los Angelesation of London: Three Short Waves of Young People's Micro-Economies of Culture and Creativity in the UK. In: Raunig, G., Ray, G., and Wiggenig, U. (eds.) Critique of Creativity. London: Mayfly, 119–32.Google Scholar
Nelson, A. (1999) Marx's Concept of Money: The God of Commodities. New York: Routledge.Google Scholar
North, P. (2007) The Politics of Monetary Contestation. In: Money and Liberation: The Micropolitics of Alternative Currency Movements. Minneapolis: University of Minnesota Press, 1940.Google Scholar
Patel, R. (2007) Stuffed and Starved: Markets, Power and the Hidden Battle for the World's Food System. Toronto: Harper Collins.Google Scholar
Rancière, J. (2007) The Future of the Image. New York: Verso.Google Scholar
Raunig, G. (2013) Factories of Knowledge, Industries of Creativity. Los Angeles: Semiotext(e).Google Scholar
Saatchi, C. (2011) The Hideousness of the Art World. The Guardian, 2 December. Available at: <http://www.theguardian.com/commentisfree/2011/dec/02/saatchi-hideousness-art-world/> Accessed 5 October 2012.+Accessed+5+October+2012.>Google Scholar
Saunders, F. (2000) The Cultural Cold War: The CIA and the World of Arts and Letters. New York: New Press.Google Scholar
Shell, M. (1994) Art and Money. Chicago: University of Chicago Press.Google Scholar
Siegel, K. and Mattick, P. (2004) Art Works: Money. London: Thames and Hudson.Google Scholar
Taylor, M.C. (2011) Financialization of Art. Capitalism and Society, 6(2): 119.Google Scholar
Thompson, D. (2010) The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art. London: Palgrave Macmillan.Google Scholar
Thornton, S. (2008) Seven Days in the Art World. New York: W.W. Norton.Google Scholar
Velthuis, O. (2007) Talking Prices: Symbolic Meanings of Prices on the Market for Contemporary Art. Princeton: Princeton University Press.Google Scholar
Weschler, L. (1999) Boggs: A Comedy of Values. Chicago: University of Chicago Press.Google Scholar
Wolff, J. (1984) The Social Production of Art. New York: New York University Press.Google Scholar