Download Art, money, parties: new institutions in the political by Jonathan Harris PDF

By Jonathan Harris

Artwork, funds, events is a suite of essays in line with papers given at a convention of an identical identify held at Tate Liverpool in November 2002. It units out to explain and review the advance of latest varieties of artwork patronage and demonstrate glaring in such recurrent occasions as biennials, 'cultural area' initiatives for city regeneration, novel galleries of up to date paintings, and construction sponsors (such because the Saatchi Gallery and the Baltic). The scope of the gathering is overseas and its target is to map and consider the globalisation of art's political-economy. members: Jeremy Valentine (Queen Elizabeth collage, Edinburgh), Andrew Brighton (Tate Modern), Sadie Coles (Gallery owner), Rory Francis (Manchester Metropolitan University), Paul Usherwood (University of Northumbria), Stewart domestic (artist and writer), Lewis Biggs (ex-Director, Tate Liverpool), and Jonathan Harris (University of Liverpool).

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16 This is why economic ‘science’ founded its laws on concepts such as equilibrium (markets), balance (budgets, trade or payments), mass (money), elasticity (supply and demand), forces (market), atomization (market players), circuit (exchange of goods and services for money), flows (finance), friction (obstacles to competition), leverage (preference for credit rather than existing funds of capital), boost (economic revival), and so on. 17 However, this project to make economic ‘science’ a social physics, on the same footing as the natural (or physical-mechanistic) sciences, soon came to an end – for two reasons.

It is exactly as if economic ‘science’ needed scarcity as its founding myth, only to rid itself of it through growth, whereas the contrary position holds that the actual economic process irreversibly degrades energy–matter and produces ever greater entropy that leads to scarcity, even absolute scarcity. The question then becomes whether scarcity lies behind us or in front of us. 32 Each science is free to choose its tools and modes of expression. The fundamental problem is not one of method but one of underlying assumptions.

It recognizes that perfect free information (a precondition of Walrasian equilibrium) does not exist, and that we have to think in terms of asymmetrical information or imperfect competition. It asks questions about transaction costs, convergent expectations, trade agreements and institutions, and much else besides – all of which may involve novel approaches and a focus on particular issues.

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