as the fourth richest man in the world with



according to Forbes. Guggenheim trustee


who is MoMA's president and a fellow at the neocon- Art Investment as a Floating Crap Game".His wife. economist Marie-Iosee Kravis. written in [986 by William J. Baumol analyzed 116 . Baumol.

This seems 118 . but for an explanation of its price structure.L.1pl Y lur ev iueuce 01 art s Investment value.HVl ::>U. implies that we can expect art booms whenever income inequality rises quickly.

this has effectively priced professionals and other traditionally art-supporting groups out and led to corporate and financial deregulation. political and legal assaults on organized labor 120 .art world.

rum to HNWIS. And as our survey of Top Col- benefit in the context of budget cuts may be just what George H. W. who continue to privatize profits at pre-crisis rates. Bush called for when he envi- 122 .

auction houses.---- --- ian sense... Let this 124 .. and art fairs.---b------ --..-~. distancing. splitting off of the market-dominated sub-field of galleries. these economic conditions and our investment in rhern. above all.. -..?" As such.

.~-._---...... 126 . 2008. ---.. Collects $25 Million.J--. ~-~ . Blogs. December Then Resigns".. ~f~-~.-. in: Wall Street Journal 22._........_~_..

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