Posts Tagged ‘art’

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Käthe Kollwitz, The Mothers (1923)

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Apparently, Arturo Di Modica, the sculptor who created Charging Bull nearly 30 years ago, considers Fearless Girl to be an insult to his work and wants it taken away.

Here’s the problem: artists (or, in the case of the opposing sculpture, the corporate sponsors) don’t get to claim the final interpretation of their work. They can attempt to control the interpretation, often with the addition of a title, but that’s it. The rest is up to the viewing public, the conversations they have about the works, and of course the way the images circulate in and through other discourses.

Thus, for example, Di Modica wants us to believe the bull’s meaning is “freedom in the world, peace, strength, power and love.” But that’s not how we see it. For us, his bull has come to represent Wall Street—hard-charging, run-over-everything-in-its-path financial capital.

And the girl? State Street Global Advisors put her there as a marketing stunt, to symbolize the idea that women have finally taken their place in the nation’s financial district. However, as Ginia Bellafante argues, that would be a “false feminism”: “really, how inspiring is a symbol of financial-world gender inequity to a cashier at CVS?”

But what if the girl has a different meaning—of people, both men and women, young and old, represented by a young fearless girl who is standing up to the hard-charging bull of Wall Street?

The late John Berger once wrote that, in the history of art, “men act and women appear.” But the Fearless Girl challenges that history. She doesn’t just appear, she acts—she stands there in an act of defiance against the marauding power of finance, the highest symbol of capitalism itself.

No wonder Di Modica, representing the powers behind him, wants her removed.

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Shepard Fairey, Ernesto Yerena, and Jessica Sabogal

Art of the day

Posted: 11 November 2016 in Uncategorized
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Banksy, “Banality of the Banality of Evil” (2013)

Back in 2013, toward the end of his one-month stay in New York, Banksy found and “vandalized” a painting he found in a local thrift store, Housing Works. The mission of the nonprofit is “to end the dual crises of homelessness and AIDS through relentless advocacy, the provision of lifesaving services, and entrepreneurial businesses that sustain our efforts.”

He then redonated the “painting” to the thrift store, which received the proceeds from its sale.

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Hans Haacke, “The Invisible Hand of the Market” (2009)

Mainstream economists have attempted to model and disseminate the idea of the invisible hand, especially in their textbooks.*

And, not surprisingly, many others—from heterodox economists to artists—have challenged the whole notion of the invisible hand.

But one of the best critiques of the invisible hand I have encountered can be found in Kim Stanley Robinson’s story, “Mutt and Jeff Push the Button” (which appears in Fredric Jameson’s recent book, An American Utopia: Dual Power and the Universal Army).

Here’s a longish extract:

“So, we live in a money economy where everything is grossly underpriced, except for rich people’s compensation, but that’s not the main problem. The main problem is we’ve agreed to let the market set prices.”

“The invisible hand.”

“Right. Sellers offer goods and services, buyers buy them, and in the flux of supply and demand the price gets determined. That’s the cumulative equilibrium, and its prices change as supply and demand change. It’s crowdsourced, it’s democratic, it’s the market.”

“The only way.”

“Right. But it’s always, always wrong. Its prices are always too low, and so the world is fucked. We’re in a mass extinction event, the climate is cooked, there’s a food panic, everything you’re not reading in the news.”

“All because of the market.”

“Exactly. It’s not just there are market failures. It’s the market is a failure.”

“How so, what do you mean?”

“I mean the cumulative equilibrium underprices everything. Things and services are sold for less than it costs to make them.”

“That sounds like the road to bankruptcy.”

“It is, and lots of businesses do go bankrupt. But the ones that don’t haven’t actually made a profit, they’ve just gotten away with selling their thing for less than it cost to make it. They do that by hiding or ignoring some of the costs of making it. That’s what everyone does, because they’re under the huge pressure of market competition. They can’t be undersold or they’ll go out of business, because every buyer buys the cheapest version of whatever. So the sellers have to shove some of their production costs off their books. They can pay their labor less, of course. They’ve done that, so labor is one cost they don’t pay. That’s why we’re broke. Then raw materials, they hide the costs of obtaining them, also the costs of turning them into stuff. Then they don’t pay for the infrastructure they use to get their stuff to market, and they don’t pay for the wastes they dump in the air and water and ground. Finally they put a price on their good or service that’s about 10 percent of what it really cost to make, and buyers buy it at that price. The seller shows a profit, shareholder value goes up, the executives take their bonuses and leave to do it again somewhere else, or retire to their mansion island. Meanwhile the biosphere and the workers who made the stuff, also all the generations to come, they take the hidden costs right in the teeth.”

 

*As I have discussed before, the invisible hand is a powerful metaphor “for which neoclassical economists have worked very hard to invent a tradition beginning with Adam Smith.” Smith himself only used the term twice in his published writings—once in The Theory of Moral Sentiments and again in The Wealth of Nations—and never to refer to a self-equilibrating market system, which is the way the term is used by mainstream economists today.