Economics, an email conversation with painters, collectors, and economists

[Jasper Joffe]

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Economics=2C an email=20
conversation with painters=2C collectors=2C and economists=20


Economics=20
& Art Discussion via email (text kept in email form largely=20
unedited)


Questions by Jasper Joffe www.jasperjoffe.com=20

Answers by
Kenny Schachter art collector=2C=20
gallerist=2C dealer=2C and writer about art. www.RoveCars.com

Nigel  Spalding =20
photographer=2C landlord and part-time art collector. www.nigelspalding.com

Kiera Bennett artist who helped set up a gallery=20
and studios called Rockwell. www.re-title.com/artists/Kiera-Bennett.asp

Tim Stoner artist. www.timstoner.co.uk/

Erik Empson a writer and editor and lectures at=20
the School of Business and Management=2C Queen Mary University of=20
London.

Joseph Clements works=20
at the UN on economic development.

Kenny=20
Schachter

How important is making money to=20
you? not important=20
enough (ask my wife)=2C but not having enough can be very sad and=20
frustrating.

Why can't everyone be=20
rich? and skinny and=20
beautiful? that's life my friend. that's why there is existentialism. every=
one=20
can't be kate moss or qatar.=20

What do you want that you don't=20
have? nothing really=20
other than perhaps a bit more cash flow and a wider audience.=20


How do you make=20
money? selling=20
art/cars/design

What would you change about the=20
economy? i think a=20
laissez faire meritocracy is the best system

Can economics explain=20
everything? human=20
nature is ultimately inexplicable. the things people do and say is=20
unaccountable!

Can economics explain=20
art? it=92s a=20
component of art more so now than ever before=3B but far=2C very far=2C fro=
m the=20
dominant explicable force.

What would you tell a rich person/ a=20
poor person about the economy? its hard work=2C isn't=20
it?

Why does some art cost millions=2C=20
while other art is hard to even give away? there are many variables that=20
factor into art pricing: who is showing=2C who is buying=2C who is reviewin=
g. what=20
institutions are involved=2C is there an auction track record=2C does the w=
ork=20
appear in fairs and on the art festival circuit (biennials=2C documentas=2C=
 etc).=20
how cute the artist is. really!

How have the recent economic problems=20
and ongoing recession affected you? every transaction is more drawn than=20
before=2C there is a different notion of time when applied to selling somet=
hing as=20
intangible and seemingly superfluous=2C or at least non-essential element i=
n=20
people's lives. but to those that are ardent collectors and/or buyers=2C an=
d they=20
are legion-more than ever=2C art is largely unaffected by the downturn.=20


Why do you think it has=20
happened? The=20
uncertainty and instability of just about every other market sector has=20
contributed to the surprising strength and ongoing growth of the art market=
.=20


What should we do about=20
it?=20
Enjoy.

You are economically successful. How=20
did you achieve this? Success is a very relative term=2C even=20
economic success=2C and not easily or succinctly defined. Surely its not me=
rely=20
material=2C so there is a gray area about the simplest essence of the term.=
=20
Compared to some i am a pauper=2C so it really is a meaningless characteriz=
ation.=20
Also how do you square one's own sense or conception of accomplishment vs. =
the=20
perceptions of others. Anything achieved is through tenacity=2C perseveranc=
e and=20
work.

How do you choose the art you=20
buy? There are one=20
million variables I can state but in the end its a visceral reaction beyond=
=20
words or thought. As the Supreme Court justice of the United States put it =
when=20
asked to define pornography: I can't explain it=2C but I know it when I see=
=20
it.

Do people criticise/envy/ or treat=20
you differently for being well off? Some people are nice and others less=20
so=3B but i have nothing to compare it to.

Can the UK government do much about=20
it? The less=20
governments usually do the better. Printing money is about the only tool to=
 get=20
us out of the hole we ourselves have dug.

How do you picture the economy (I=20
mean visually)?




KS=2C from the series economic=20
portraits=2C 2001=2C exhibited at international 3=2C in=20
manchester.

Tim=20
Stoner

How important is making money to=20
you? It's a tool=2C it=20
allows me to make ideas and continue what I have been doing for at least 25=
=20
years. I live beyond my means and don't get too concerned with it unless it=
=92s=20
5th April.

Why can't everyone be=20
rich? I have no=20
idea=2C but the extremities between the richest and poorest make me quite=20
uncomfortable=2C i think its unsustainable. I think that China will change =
in the=20
next five years and it could change the global economic=20
landscape.

What do you want that you don't=20
have? Nothing. I use=20
the best materials=2C so having more money will not change anything when I =
stand=20
in front of a canvas=2C I'm more concerned with my health and human=20
concerns.

How do you make=20
money? I just send=20
my accountant stuff and he lets me get on with making art and focusing on w=
hat=20
is important.=20

What would you change about the=20
economy? I would=20
seriously restructure capitalism=2C I don't think that there is another sys=
tem=20
(yet) that can be imposed=2C nor work=2C so it's the best we have. I consid=
er the=20
ideas of John Maynard Keynes=2C and now Paul Krugman the most interesting i=
n terms=20
of future stability=2C without serious investment into infrastructure and s=
ocial=20
projects i think we are walking over the abyss. I would also address the ve=
ry=20
serious problem faced by the youth today=2C I think it's very unlikely that=
 they=20
will put up with things as they are for much longer.

Can economics explain=20
everything? No. It=20
can't even explain economics.

Can economics explain=20
art? No=2C art is=20
about the human brain=2C and we know almost nothing about=20
it.

What would you tell a rich person/ a=20
poor person about the economy? That there is more to life and one=20
day the sun will swallow the earth... enjoy it now

Why does some art cost millions=2C=20
while other art is hard to even give away? Because capitalism is about bran=
ding=20
and investment. If your brand has kudos then it is worth more. Whether that=
 has=20
anything to do with quality is an entirely different matter of=20
course.

Is there anything you would change=20
about the art economy? How do you price your paintings? How did you become =
a=20
successful artist?

Its complex because on one hand we=20
are discussing social phenomena=2C but on the other hand I see art as being=
 a=20
highly individualistic pursuit. The meeting point for me is that I believe =
that=20
the most individualistically expressive aspect of human nature is the resul=
t of=20
the most meritocratic and socially progressive=20
environment.

I dont think that the art economy is=20
any different from the *real economy*. As I said before its not something t=
hat I=20
think about too much=2C I have other more pressing issues like how to get a=
=20
precise colour or composition. I explain my world much more comprehensively=
=20
using these means than words or systems.

I'm not sure whether I am successful=20
in the material sense that people think 'success' is based upon nowadays. I=
 am=20
more interested in finding success in making better opportunities for my id=
eas=2C=20
which is why as soon as the recession bit in the UK I moved to a huge studi=
o in=20
Spain and worked away from the *art-world*. I spent large reserves of my ow=
n=20
capital funding new ideas=2C regardless of the outcome: Recession is a time=
 of=20
opportunity for artists.=20

There is far too much clutter and=20
nonsense around artists 'careers'=2C I became very cynical about this after=
=20
winning the Becks Futures at the ICA more than a decade ago=2C because the=
=20
art-world-economic expectation was to continue doing the same thing so that=
 I=20
could feed collector demand=2C I think that this obsession with 'the next n=
ew=20
thing' is the biggest problem that the 'scene' has (for want of a better wo=
rd).=20
Change and development are necessary in order to generate new ideas and fur=
ther=20
ones vision=2C and capitalism does not create much space for this. The obje=
ctive=20
is not to 'get into the game'=2C that's easy. The objective of success is t=
o stay=20
in the game=2C and that's difficult.

I picture the economy as it has=20
always been - as churchill said=3B 'with the monarch as the apex of the feu=
dal=20
pyramid'..... and I guess the majority of us at the bottom=2C pretty immobi=
le.=20
Sadly the pyramid has become more obtuse over the last ten=20
years.







Kiera=20
Bennett

How important is making money to=20
you? Well=2C on=20
reflection it can't be that important because I've reached 41years of age a=
nd=20
made very little by continuing to pursue something that is not =2C so far=
=2C very=20
lucrative - I've even stopped making work that started to sell very well as=
 I=20
wanted to follow other lines of logical investigation that those previous b=
uyers=20
weren't so keen on or 'got' ('inconsistency' I believe its described as - I=
 call=20
it 'integrity'!!)...having said that I need to make money to make more work=
 and=20
to some extent preserve the sanity that comes with a greater sense of secur=
ity=20
i.e. if you've not got enough to pay rent or buy art materials it can affec=
t=20
ones freedom to make work...and makes me tired and frustrated - the worries=
 feed=20
my insomnia...just enough not to worry is enough I think...but I'm not sayi=
ng=20
that I wouldn't thrive on and enjoy being loaded I'm not totally averse to=
=20
obscene shopping sprees- I do think I'd make more work if I had more money=
=2C=20
bigger studio etc.. I'd like to not HAVE to be 'creative' in every aspect o=
f my=20
life...cash flow is definitely beneficial to a degree (but didn't Jarvis Co=
cker=20
say he found it hard to write good songs when he became rich and famous) ho=
wever=20
with painting I think money can help=2C it allows you to make those things =
you=20
want to and gives you time...fame or gallerists etc 'may' interfere with=20
'integrity' but I think money alone can help.

Why can't everyone be=20
rich? Why can't=20
everyone be healthy? Why do bad things happen to good people and good to ba=
d?=20
Because life is unfair and to be honest how weird would that be?.. there'd =
be no=20
benchmarks or differences we'd all be the same so no one would be rich?! ma=
ybe=20
love would become a desirable commodity? ..I'm sad that some are very poor=
=2C  I don't want to see poverty and of course I=20
ask myself that question but if you're talking 'RICH' + everyone was 'rich'=
 it=20
may be a scary world to live in..it may be interesting 'everyone' having a =
say=20
in what is most commercially attractive..not sure if art would have much pl=
ace=20
in that though..sounding a bit like a misanthrope now but going on majoriti=
es=20
and most popular newspapers read etc I wouldn't have much faith in 'good' a=
rt=20
having much of a role+in some cases that 'character building' 'fight'+resul=
ting=20
creativity may vanish but then so may bitterness and anger=2C who knows=2C =
we'll=20
never know - (mind you it would be funny if the likes of some of the useles=
s=20
'celebrity' rich had no reason to feel superior)- pessimistically I don't t=
hink=20
harmony would ensue...+sadly elitism has its good points.....having said th=
at I=20
could buy art and I'd buy really good stuff - (back and forth - I could waf=
fle=20
on for ages but won't bore you -- will try to be concise from here on in)  =
=20




What do you want that you don't=20
have? besides=20
guaranteed health and long life for all those I love and me!? ...more money=
=20
absolutely ....and a platform to get my paintings seen by more=20
people




How do you make=20
money? Ha I don't -=20
no seriously=2C I sell some work and have a fairly regular lecturing=20
job

What would you change about the=20
economy? the 'type'=20
of people running it - but where do you find the kind of people who would r=
un it=20
better that wouldn't rather 'switch off their televisions sets and go out a=
nd do=20
something less boring instead'

Can economics explain=20
everything? What=20
'life=2C the universe and everything'? Of course not but boringly it seems =
to crop=20
up in most discussions on most things

Can economics explain=20
art? No it can't=20
deal with the complexities and subtleties of thought involved=2C materialit=
y in=20
relation to subject=2C philosophy etc etc it's a science and although art=20
/maths/science have links there's a chasm between them.=20


What would you tell a rich person/ a=20
poor person about the economy? I am poor (warning cliche pending -=20
but rich in other ways !!) very little actually =20
- I'm unqualified=2C not sure how to begin saying anything about it and=20
have more important paintings and people to think about - how does it affec=
t me=20
'the economy' I'm really not sure=2C as an artist who lives very frugally=20
(relatively speaking - yeah everything's relative) I know my rent is expens=
ive=20
I'm aware there are very rich and very poor but what to say - I don't=20
know?

Why does some art cost millions=2C=20
while other art is hard to even give away? Who the artist is and knows -=20
branding - death -association/validation - galleries -  who's bought them -=
 there's tonnes of equally=20
good or better artists that don't hit the wave at the right point time and =
time=20
again - it has very little to do with quality of art but it can affect=20
importance of it..some work is made important by those who validate it=2C w=
ho says=20
its good =96 doesn't mean it is=2C but it can be! I just wish fewer people =
confused=20
value with price.

Is there anything you would change=20
about the art economy? The art economy=2C the economy?!=20
...having sent these questions to us on the eve of the news of the confirma=
tion=20
of the 'double dip' and all the recent headlines I feel that you=2C Jasper=
=2C are=20
truly the king of PR and I truly admire your tenacious approach to 'doing' =
and=20
making shows and debate happen...(enough ego massage now) but I discussed t=
his=20
with my other 'alf Alex Gene Morrison=2C how =2Cwith slight guilty selfishn=
ess=2C the=20
recession has only affected us slightly - rent gone up=2C stuff pricier but=
 has=20
barely made a dent on our accustomed to state of 'being in the red'...we al=
ways=20
are=2C to varying degrees.. so I feel a bit immune to this...in terms of ch=
anging=20
things about the art economy anything an artist may say negatively could be=
=20
construed as 'bitter and twisted' - the dreaded 'unsuccessful failed artist=
=20
rant' which in itself is annoying and leaves one in a no-win situation...I'=
ve=20
tried hard not to seem or feel bitter but when commenting on possible negat=
ives=20
i.e. things that could be changed it invariably comes across like=20
that!!

I would certainly like for there to be less emphasis on 'the next=20
art star/celebrity' type mentality - buying cheap from degree level - I'm n=
ot=20
denying the benefits of the couple of major art collectors - who provide=20
fantastic opportunity but with such an emphasis on buying into such young=20
potential it creates a system of underdeveloped potential=2C (possibly) bei=
ng=20
arrested and a 'product' (variations on a theme ) being the core of current=
 art=20
making (have you found your 'thing'?) or that possible potential not really=
=20
being quite so interesting long term (sadly occasionally some careers for t=
he=20
odd charlatan maybe? - but this happens in all walks of life) - and then fo=
r all=20
those young art students who don't 'arrive' as soon as the degree show is d=
one=20
there is disappointment - I read an article by Jules Olitski - he said that=
=20
young artists these days expect a solo show and gallery as soon as their fi=
rst=20
pubic hair appears...but then it has probably been thus for a very long=20
time...Olitski also dreamed of finding his 'Kahnweiler' - as artists we DO =
need=20
financial support - a fairy godmother(!!?) - exposure -a platform to show w=
ork=20
but it is a delicate line between that which 'enables' you to make art and =
being=20
part of an 'industry' making a 'product' - there's a lucky few who have the=
ir=20
cake and eat it and there is some great contemporary art out there being ma=
de by=20
really interesting artists doing really well (successful)...it's not like s=
ome=20
other art forms - like a jobbing actor or writer=2C other creative people d=
on't=20
necessarily need a studio/space/materials etc to evolve the work=2C daily '=
time'=20
to 'make'- money does matter and is important to 'enable' - it's great that=
=20
there are a couple of collectors who=2C I think=2C on the whole do a great =
job in=20
supporting young (and older) artists but it's very limited and the brit art=
=20
market seems to be controlled by a very very small handful of people=20
(gallerists/collectors)..who may or may not be qualified to recognise the b=
road=20
range of what is 'good art' - the ones bought are 'verified' and pretty muc=
h=20
secured some sort of future within the 'art world' - it has to become a=20
commodity as it's been invested in so therefore 'will' become desirable! So=
 the=20
decisions of collectors really impact on what artists make - fashion is=20
fashionable!!=20

I'm glad of some of the artist run spaces - I'm glad a=20
bunch of us did that for a while ( Rockwell - Dalston - 2002 -7) Gavin Nola=
n=2C=20
Reece Jones=2C Alex Gene Morrison=2C Chris Davies - set it up - we showed a=
rtist's=20
we rated gave them a space to show work - non profit=2C just about showing =
and=20
talking about interesting art...but it is tough without financial back up -=
 but=20
possible ...in the 'BIG ART market' the actual work (whether it's good or n=
ot)=20
is confused on a critical level with a whole host of other things - who sho=
ws=20
it=2C who gave it validation=2C who the artist knows=2C how old the artist =
is=2C( SO=20
many people have potential at 20!) who the artist is...etc=20

How do I price my paintings? - it goes=20
on what they've sold for before=2C mainly - also scale I guess - smaller ch=
eaper!=20
- what people will pay for them - I have actually sold quite a few things t=
o=20
other artists (Cornelia Parker=2C Julian Opie=2C Mario Testino and others**=
*(don't=20
need to leave that in makes me look like a bragger! - just saying!))- I rea=
lly=20
like this - those I know genuinely love it - absolutely no 'investment' cri=
teria=20
involved (I don't think=2C unless they're being VERY savvy and maybe they c=
an be=20
more than most?! - that only just occurred to me) ...mmm it IS important to=
 me=20
who 'gets' or likes my work...

How did you become a successful=20
artist? I guess I consider my success to be that I can continue to make wor=
k=20
and I teach painting so I pretty much do what I've always done - which is g=
reat=20
- but financially speaking and having galleries=2C a larger audience I'm no=
t at=20
all successful - I do want further freedom to make more work and have a wid=
er=20
audience (and money! - would like to live in a larger than 'pea-sized' flat=
 -=20
have room to put up all the art Alex and I have accumulated (swapping and=20
gifts)- be able to buy some art - paint my own front door etc ) but I'm doi=
ng=20
OK=2C I show a lot - not many solo=2C but I consistently get stuff out ther=
e and=20
manage to pursue my evolving ideas- I do have a dream of having major Solo =
shows=20
that lots of people see but that I have total control over ( no compromises=
!!)=20
is that possible?! I'm ambitious and try hard to work out why a 'Gallery' m=
ay be=20
such a great thing - I think it would be=2C but would it affect my freedom =
as an=20
artist?? I dunno=2C would the benefits I dream of=2C being hugely financial=
ly=20
successful=2C actually alter my ability to explore and make paintings I bel=
ieve=20
in?? i like to think not - not in a negative way=2C anyway....?

How do I picture the economy?=20
visually?...probably a graph 'cus that's what I keep being shown!! or a pil=
e of=20
cardboard boxes !

Nigel=20
Spalding

How important is making money to=20
you?  More important than not making enough money=20
to not be able to stand on my own two feet.=20

Why can't everyone be=20
rich? What do you=20
mean by rich? Why can=92t everyone be poor? Why are we individual?=20


What do you want that you don't=20
have? I do not know.=20
World Peace? Sometimes you do not miss what you do not have or do not know=
=20
exists=85.




What would you change about the=20
economy? Not sure I=20
would know how to do that and if there are even any changes that would crea=
te a=20
=91=92better=92=92 outcome than that that already exists=85=85

Can economics explain=20
everything? No. (Not=20
all economists can agree with each other=85)

Can economics explain=20
art? Not sure it=20
can

What would you tell a rich person/ a=20
poor person about the economy? Nothing comes to mind =96 but that=20
depends what they ask me and whether I can answer=20
them=85.

Why does some art cost millions=2C=20
while other art is hard to even give away? Marketing & publicity can play=20
it=92s part =85.

How have the recent economic problems=20
and on-going recession affected you?Harder to borrow money to buy=20
property. You need a bigger deposit to buy and then you have more hoops to =
jump=20
through to get the mortgage. Buy-to-let landlords have to put 40% to get th=
e=20
best loan rates (which are around 4%). =20
Pre-credit crunch you could borrow 85% to get the best interest rates=20
(then around 5%).  On the other hand=20
pre-credit crunch borrowing has dramatically reduced (so costs have reduced=
) and=20
rents are now rising =96 therefore income is increasing. So pre-credit crun=
ch=20
landlords are in a good position now. But although rents are increasing it =
is=20
very hard to expand to meet rental demand because hard to borrow of the cre=
dit=20
crunch =96 so rents will carry on rising as supply of rental stock will not=
 keep=20
up with demand. =20

Why do you think it has happened?=20
The Credit crunch=20
means that demand for rental stock has increased. Would-be owner-occupiers =
have=20
to rent for longer as they need to save a larger deposit to buy somewhere.=
=20
Longer term renters are seeing their costs increase so they have less money=
 to=20
spend on other things.=20

What should we do about it?=20
Lower taxes =96=20
because disposable income is being eroded by inflation. This means people h=
ave=20
less money to spend and this is therefore bad for the economy as people wil=
l cut=20
back on spending. This means sectors dependent on consumer spending (65% of=
 the=20
economy or more?) are under pressure - that could result in job losses=85..

Can the UK government do much about=20
it?The majority of=20
jobs created are by small businesses I think =96 so the Government should b=
e=20
reducing red tape and lowering taxes for new businesses etc - to help kick =
start=20
and increase employment. (The high level of debt that we have as a country =
does=20
tie the hands of the State to increase spending more than it is currently d=
oing=20
as increasing the debt may send the wrong message to the debt markets and t=
hey=20
may start charging more interest on the loans the UK government has borrowe=
d if=20
they think that the money is not being spent well enough and will not be pa=
id=20
back=85=85. Higher government borrowing costs would not be very helpful to =
the UK!!=20
This would mean less money can be allocated to spending on essential=20
services.)  I think for everyone =A35 spent=20
by the state at the moment =A34 is borrowed=85=85 is that correct? Also the=
 10%=20
richest pay about 58% of all taxes the State collects. These figures can be=
=20
checked with ONS.=20

You are economically successful. How=20
did you achieve this? I am not sure that is the case=85=85I and=20
my partner have had success in property because=2C to some extent=2C the ma=
rket=20
allowed it=85.by that I mean inflation in property in London since 1993 has=
 been a=20
one way bet. So if you invested in property at the right time then you coul=
d not=20
go wrong=85..we fell into it by circumstances. It was never planned origina=
lly.=20


How do you choose the art you buy?=20
I have to like it=20
first =96 that involves connecting with it and relating to it and understan=
ding=20
what the artist and the artist=92s intentions. It is personal taste at the =
end of=20
the day and there is no accounting for taste!=20

Do people criticise/envy/ or treat=20
you differently for being well off?
I am not well off enough! In any=20
case=2C I would like to think am I treated for who I am and not what people=
 may=20
think I have=85..One of the most valuable commodities is friendship and I w=
ould=20
not like anything to get in the way of that=85..

How do you picture the economy  I mean visually)? A =91=92LIVING=92=92=20
ENTITY




Erik=20
Empson

Can economics explain=20
art?

I think if it could=2C it would imply a=20
worrying condition=2C one perhaps where doomsayer claims about the totalisi=
ng and=20
subsuming logic of capital were borne out. But in many respects art is alwa=
ys a=20
scandal to the reductive mindset of economics that seeks to reduce everythi=
ng to=20
instrumental rationality and discrete ends orientated individuals ruthlessl=
y=20
pursuing self-interest. Clearly art has utility=2C as aesthetic experience=
=2C but to=20
measure and modulate that in the way we do other commodities (and in a mann=
er=20
that many speculators would desire to and to a certain extent practice [I=20
remember an antiques dealer telling me that=2C I think it was the price of=
=20
paintings by Constable but it might not have been=2C could be pretty much=20
accurately measured by the square inch) would have to undermine that aesthe=
tic=20
function itself=2C and bind it to standards entirely foreign to the freedom=
 on=20
which the opening up and practice of aesthetic experience is preconditioned=
.=20
When it comes to economy=2C or general economy to use Bataille's concept=2C=
 I am=20
torn between seeing the very possibility of art lying in a economic surplus=
=2C=20
i.e. as a result of social cooperation=2C that results out of abundance and=
 free=20
time for what Bataille call's unproductive consumption=2C abandon=2C waste=
=2C=20
transgression and experimentation=2C and alternatively as the very basis on=
 which=20
social solidarities can form in the first place (either in ceremonial excha=
nge=2C=20
as in Potlach=2C or through shared sacred objects or fetishes=2C that allow=
 for a=20
symbolic order=2C and thus language and so on to develop.) Of course these =
two=20
ways of thinking about it do not entirely exclude one another=2C but they d=
o place=20
art=2C as should be done with the economy=2C as part of a wider set of soci=
al=20
relations. Possibly we can not make art until our other needs are satisfied=
=2C it=20
is a secondary extravagance that we do when we have created space and time =
to=20
create=2C or alternatively=2C the lack of that surplus forces humans to dev=
ise (as=20
through religion) a way of dealing with scarcity.=20

There is another unique property or=20
oddity of art commodities that are important to address in understanding ar=
t's=20
relation to sociability as to other questions=2C namely the fact that like =
no=20
other commodity=2C the value of art (reflected in price) can increase as ar=
t is=20
consumed=3B unlike a mars bar which turns to shit on being consumed=2C the =
more=20
people that see a painting or talk about it=2C i.e. consume it=2C the more =
it can=20
increase in value. We can see this a little in things like religious relics=
=2C the=20
object absorbs (and in some cases appear to embody) the social energies tha=
t it=20
reflects.

One thing we can be sure of is that=20
the art market is not a freemarket=2C it is regulated=2C price-fixed=2C mon=
opolised=2C=20
subject to robbery=2C bribery and all the rest=2C and in this sense it is a=
=20
microcosm of the wider economy=2C rife with privilege=2C inequality=2C nepo=
tism and=20
all the rest. But the question is more complicated today=2C not least becau=
se of=20
the claim that capitalism itself has undergone a transformation in which th=
e=20
creative use of social intelligence is now fundamental to economic valorisa=
tion=20
which supposedly previously followed a simpler logic of just producing more=
=20
things more cheaply. So called 'immaterial labour'=2C the knowledge economy=
=2C the=20
production of affect=2C if central now to advanced capitalist economics=2C =
and as=20
implicitly recognised by the explanations of the art market as driven by br=
and=20
and image and so on=2C gives a special place to the artist as one who can c=
ondense=20
or distil social consciousness and help its valorisation. That the artist i=
s not=20
necessarily rewarded for this=2C even less the hordes of unpaid workers and=
=20
interns (see the Carrot Workers collective for people who organise around t=
his=20
issue in the art world) and is often a conduit for the money making of othe=
rs=2C=20
shouldn't blind us to the significance of the transformation (if it is trul=
y=20
so)=2C for it would shift art from being at the margins of social experienc=
e=20
(marginal that is to people with a one way ticket on the money making gravy=
=20
train) back to its central role in mediating social experience and facilita=
ting=20
new forms of life and love.

As for economic change. Pity that in=20
a country with such a long tradition of utilitarian thought that one small =
thing=20
that no one ever mentions in relation to this so-called crisis=2C is how ea=
sily=20
certain problems could be fixed if we requisitioned even a small portion of=
 land=20
from some of Britain's largest landowners=2C starting with the queen and wo=
rking=20
down=2C and used it to build homes for the needy and provide jobs for the w=
orthy.=20
This would be a part of a scheme that sought to extend homeownership to eve=
ryone=20
that lives in the uk=2C giving them a stake in their communities=2C economi=
c=20
security and a real choice over what they do with their=20
lives.

Are there any common misconceptions=20
about the economy you would like to clear up? I think one of the biggest=20
misconceptions that needs addressing is the need for growth. Our economies =
only=20
'need' to grow because they are based on debt and the whole economy is gear=
ed=20
not to the satisfaction of needs=2C but profit for these creditors and othe=
rs.=20
Remove this debt element - a political problem - and you have a different s=
et of=20
challenges i.e. minimising exploitation=2C waste=2C harmful and unsustainab=
le=20
practices and inefficiency and freeing up time and resources for other=20
pursuits.

What would you tell a 7=20
year old about the economy? I would probably tell a seven year old somethin=
g=20
that good economics are systems of fairly satisfying and guarantee the basi=
c=20
needs of the entire human population of the planet=2C that to have these is=
 a=20
difficult challenge but one worth trying for and that any other economics i=
s=20
just hogwash




Joseph=20
Clements

How=20
important is making money to you?

-=20
To the extent that it pays for peace of mind (and health costs) and provide=
s=20
some margin in life=2C in the event of... I find it beneficial to my=20
well-being.




Why=20
can't everyone be rich?

-=20
Being rich is a relative concept=2C so if everyone was rich=2C no one would=
 be rich?=20
Having said that=2C many more people could be richer after a re-distributio=
n of=20
wealth. Most rich people are rich by accident of birth=2C so re-distributio=
nal=20
policies are fair in the sense that they redress the arbitrariness of birth=
 and=20
good/bad luck. Here is the view of a colleague of mine: =93That depends on =
how you=20
define =91rich=92. Social wealth is limited by the amount of things availab=
le for=20
appropriation=2C and it is measured by some socially accepted standard. Ano=
ther=20
standard establishes the threshold for being 'rich'.=94

What do you want that you don't=20
have?

-=20
Some kind of property perhaps.=20


How do you make=20
money?

-=20
In a salaried job - as a colleague remarked=2C =93a salary payment material=
ises in=20
my bank account at the end of each month without having any direct relation=
ship=20
to what I produce=85=94=20


What would you change about the=20
economy?

-=20
For starters: less austerity=2C less privatization of public services=2C en=
d tax=20
havens and non-productive financial speculation.

Can economics explain=20
everything?

-=20
No=2C although it is interesting reading some economists=92 attempts to do =
so =96 at=20
best they are playful and fun=2C like the Freakonomics author Steve Levitt =
who=20
explains why crack dealers still live with their mums=3B at worst=2C they e=
xert an=20
unwarranted influence on policymakers which can have undesirable=20
consequences.


Can economics explain=20
art?

-=20
See above answer


What would you tell a rich person/ a poor=20
person about the economy?

-=20
More or less the same things




Why=20
does some art cost millions=2C while other art is hard to even give away?=20


-=20
Taste=2C and the ability of some people to create a market (cf. the Dutch t=
ulip=20
bubble in the 17thcentury and=20
art as an asset class). Or=2C as a colleague put it: =93supply and demand d=
etermines=20
the price of non-reproducible commodities manufactured in artisan=20
workshops.=94

Are=20
there any common misconceptions about the economy you would like to clear u=
p?=20


-=20
Plenty=3B the idea that economies are the same as households for starters.=
=20





What=20
would you tell a 7 year old about the economy?

-=20
Looking at what happened during the last financial crisis=2C it seems obvio=
us that=20
children should have some kind of economics and finance education. We are=20
regularly sold junk by salesmen and politicians in every form=2C and financ=
ial=20
products and the economy are no exception.=20




How=20
did you end up working in economics?

-=20
An interest in the area of economic development=2C some qualifications=2C a=
nd then=20
serendipity.




How=20
have the recent economic problems and ongoing recession affected=20
you?

-=20
I live in Switzerland and so the ongoing sovereign debt crisis in the Euroz=
one=20
has benefited me to the extent that it has strengthened the Swiss franc=2C =
but I=20
don=92t really notice this as I tend to buy stuff in Switzerland=2C which s=
till=20
remains a very expensive place to live.=20




Why=20
do you think it has happened?

-=20
The recession? The de-regulation and liberalisation of financial markets=2C=
=20
products (notably securitisation) and capital flows was intended to fuel gr=
owth=20
but contributed to the creation of a private debt crisis. Due to the increa=
sing=20
interconnectedness of the global economy=2C this debt was spread throughout=
 the=20
financial system and had the potential to impact the real economy across=20
regions. Instead of dispersing risk=2C this kind of debt-driven growth in f=
act=20
left more countries=2C sectors and jobs exposed to the looming debt crisis.=
 The=20
subsequent=2C rapid de-leveraging of the debt led to a recession in many re=
gions=2C=20
characterised by falling real wages=2C growing unemployment and low growth =
rates.=20
The policy response=2C which included in some cases the nationalisation of =
debt=20
through bail-outs and government intervention=2C averted a meltdown of the =
global=20
monetary system but has so far been insufficient to raise the global econom=
y out=20
of recession.




What=20
should we do about it?

-=20
There are many things that could be done at both the international and nati=
onal=20
levels that could boost growth and stability in the global economy in the s=
hort=20
term=2C and lift countries out of recession. In the longer term=2C I could =
also=20
highlight many areas where I believe more action needs to be taken: for exa=
mple=2C=20
I think we need to re-regulate the financial sector=2C and I think we need =
to=20
address the funding and lobbying links between firms and governments=2C mak=
ing=20
them more transparent and reversing the =91capture=92 of public offices by =
private=20
interests (I=92m looking at certain media organisations and banks=2C for ex=
ample).=20



Can=20
the UK government do much about it?

-=20
During a recession=2C when individuals and the private sector are either=20
constrained in their spending=2C do not want to spend (believing prices wil=
l fall=20
further)=2C or cannot get access to credit=2C the government has a role to =
play in=20
stimulating economic activity through spending and tax cuts. My personal vi=
ew is=20
that the government should be doing this now.




Economics a painting show by Jasper=20
Joffe opens August 9th

Private View: Thursday 9 August 2012=20
6 - 9 pm=20

10 August to 18 August open on Thurs=2C=20
Fri=2C Sat=2C 12 =96 5 pm
Chateau Joffe=2C Shoreditch=2C London
Unit 3=2C 7C Plough=20
Yard=2C EC2A 3LP
Liverpool Street or Old Street tubes
T: 079571=20
36066

Chateau Joffe presents a series of=20
paintings about economics: offices=2C Chinese and US factories=2C slaves=2C=
 labour=2C=20
bankers=2C mortgages and derivatives. All the images originate from the uni=
versal=20
image bank of Flickr. Joffe constructs a visual vocabulary of the abstract =
terms=20
which are used in discussing the economy.










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<h3 class=3D"post-title entry-title" itemprop=3D"name">Economics=2C an emai=
l=20
conversation with painters=2C collectors=2C and economists </h3>
<div class=3D"post-header">
<div class=3D"post-header-line-1"></div></div>
<div id=3D"post-body-528401104953277882" class=3D"post-body entry-content" =
itemprop=3D"articleBody"><b style=3D"mso-bidi-font-weight: normal=3B"><span=
 style=3D'line-height: 115%=3B font-family: "Tahoma"=2C"sans-serif"=3B font=
-size: 16pt=3B'>Economics=20
&amp=3B Art Discussion via email (text kept in email form largely=20
unedited)<?XML:NAMESPACE PREFIX =3D O /><O:p></O:p></span></b><br><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B'>Questions by <b style=3D"mso-bidi-f=
ont-weight: normal=3B">Jasper Joffe </b></span><a href=3D"http://www.jasper=
joffe.com/"><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'><span s=
tyle=3D"color: blue=3B">www.jasperjoffe.com</span></span></a><b style=3D"ms=
o-bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans=
-serif"=3B'> <O:p></O:p></span></b></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B'>Answers by<br><b style=3D"mso-bidi-=
font-weight: normal=3B">Kenny Schachter</b> art collector=2C=20
gallerist=2C dealer=2C and writer about art. </span><a href=3D"http://www.r=
ovecars.com/"><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'><span=
 style=3D"color: blue=3B">www.RoveCars.com</span></span></a><span style=3D'=
font-family: "Tahoma"=2C"sans-serif"=3B'><O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Nigel<span style=3D"mso-spacerun: yes=3B">  </span>Spalding</span=
></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'><span style=3D=
"mso-spacerun: yes=3B"> =20
</span>photographer=2C landlord and part-time art collector. </span><a href=
=3D"http://www.nigelspalding.com/"><span style=3D'font-family: "Tahoma"=2C"=
sans-serif"=3B'><span style=3D"color: blue=3B">www.nigelspalding.com</span>=
</span></a><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'><O:p></O=
:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Kiera Bennett</span></b><span style=3D'font-family: "Tahoma"=2C"s=
ans-serif"=3B'> artist who helped set up a gallery=20
and studios called Rockwell. </span><a href=3D"http://www.re-title.com/arti=
sts/Kiera-Bennett.asp"><span style=3D'font-family: "Tahoma"=2C"sans-serif"=
=3B'><span style=3D"color: blue=3B">www.re-title.com/artists/Kiera-Bennett.=
asp</span></span></a><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B=
'><O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Tim Stoner</span></b><span style=3D'font-family: "Tahoma"=2C"sans=
-serif"=3B'> artist. </span><a href=3D"http://www.timstoner.co.uk/"><span s=
tyle=3D'font-family: "Tahoma"=2C"sans-serif"=3B'><span style=3D"color: blue=
=3B">www.timstoner.co.uk/</span></span></a><span style=3D'font-family: "Tah=
oma"=2C"sans-serif"=3B'><O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Erik Empson</span></b><span style=3D'font-family: "Tahoma"=2C"san=
s-serif"=3B'> a writer and editor and lectures at=20
the School of Business and Management=2C Queen Mary University of=20
London.<br><br><b style=3D"mso-bidi-font-weight: normal=3B">Joseph Clements=
 </b>works=20
at the UN on economic development.<br style=3D"mso-special-character: line-=
break=3B"><br style=3D"mso-special-character: line-break=3B"><O:p></O:p></s=
pan></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'line-height: 115%=3B font-famil=
y: "Tahoma"=2C"sans-serif"=3B font-size: 16pt=3B'>Kenny=20
Schachter<O:p></O:p></span></b></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>How important is making money to=20
you</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'>? not=
 important=20
enough (ask my wife)=2C but not having enough can be very sad and=20
frustrating.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Why can't everyone be=20
rich?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> an=
d skinny and=20
beautiful? that's life my friend. that's why there is existentialism. every=
one=20
can't be kate moss or qatar. <O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What do you want that you don't=20
have?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> no=
thing really=20
other than perhaps a bit more cash flow and a wider audience.=20
<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>How do you make=20
money?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> s=
elling=20
art/cars/design<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What would you change about the=20
economy</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'>?=
 i think a=20
laissez faire meritocracy is the best system<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Can economics explain=20
everything?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=
=3B'> human=20
nature is ultimately inexplicable. the things people do and say is=20
unaccountable!<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Can economics explain=20
art?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> it=
=92s a=20
component of art more so now than ever before=3B but far=2C very far=2C fro=
m the=20
dominant explicable force.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What would you tell a rich person/ a=20
poor person about the economy?</span></b><span style=3D'font-family: "Tahom=
a"=2C"sans-serif"=3B'> its hard work=2C isn't=20
it?<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Why does some art cost millions=2C=20
while other art is hard to even give away</span></b><span style=3D'font-fam=
ily: "Tahoma"=2C"sans-serif"=3B'>? there are many variables that=20
factor into art pricing: who is showing=2C who is buying=2C who is reviewin=
g. what=20
institutions are involved=2C is there an auction track record=2C does the w=
ork=20
appear in fairs and on the art festival circuit (biennials=2C documentas=2C=
 etc).=20
how cute the artist is. really!<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>How have the recent economic problems=20
and ongoing recession affected you? </span></b><span style=3D'font-family: =
"Tahoma"=2C"sans-serif"=3B'>every transaction is more drawn than=20
before=2C there is a different notion of time when applied to selling somet=
hing as=20
intangible and seemingly superfluous=2C or at least non-essential element i=
n=20
people's lives. but to those that are ardent collectors and/or buyers=2C an=
d they=20
are legion-more than ever=2C art is largely unaffected by the downturn.=20
<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Why do you think it has=20
happened?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'=
> The=20
uncertainty and instability of just about every other market sector has=20
contributed to the surprising strength and ongoing growth of the art market=
.=20
<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What should we do about=20
it?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'>=20
Enjoy.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>You are economically successful. How=20
did you achieve this? </span></b><span style=3D'font-family: "Tahoma"=2C"sa=
ns-serif"=3B'>Success is a very relative term=2C even=20
economic success=2C and not easily or succinctly defined. Surely its not me=
rely=20
material=2C so there is a gray area about the simplest essence of the term.=
=20
Compared to some i am a pauper=2C so it really is a meaningless characteriz=
ation.=20
Also how do you square one's own sense or conception of accomplishment vs. =
the=20
perceptions of others. Anything achieved is through tenacity=2C perseveranc=
e and=20
work.<b style=3D"mso-bidi-font-weight: normal=3B"><O:p></O:p></b></span></d=
iv><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>How do you choose the art you=20
buy?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> The=
re are one=20
million variables I can state but in the end its a visceral reaction beyond=
=20
words or thought. As the Supreme Court justice of the United States put it =
when=20
asked to define pornography: I can't explain it=2C but I know it when I see=
=20
it.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Do people criticise/envy/ or treat=20
you differently for being well off?</span></b><span style=3D'font-family: "=
Tahoma"=2C"sans-serif"=3B'> Some people are nice and others less=20
so=3B but i have nothing to compare it to.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Can the UK government do much about=20
it?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> The =
less=20
governments usually do the better. Printing money is about the only tool to=
 get=20
us out of the hole we ourselves have dug.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>How do you picture the economy (I=20
mean visually)?<O:p></O:p></span></b></div><br>
<div style=3D"text-align: center=3B clear: both=3B" class=3D"separator"><a =
style=3D"clear: left=3B margin-right: 1em=3B margin-bottom: 1em=3B float: l=
eft=3B" href=3D"http://4.bp.blogspot.com/-x15qQfNFxTc/UBg_rpHX2ZI/AAAAAAAAA=
Mg/X4z7w0QD5O8/s1600/kenny.jpg" imageanchor=3D"1"><img border=3D"0" src=3D"=
http://4.bp.blogspot.com/-x15qQfNFxTc/UBg_rpHX2ZI/AAAAAAAAAMg/X4z7w0QD5O8/s=
640/kenny.jpg" width=3D"640" height=3D"232" closure_uid_a8hpbi=3D"2"></a></=
div>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B mso-fareast-language: EN-GB=3B mso-no-proof: yes=3B'><?XML:NAMESPA=
CE PREFIX =3D V /><V:shapetype id=3D"_x0000_t75" coordsize=3D"21600=2C21600=
" filled=3D"f" o:preferrelative=3D"t" o:spt=3D"75" path=3D"m@4@5l@4@11@9@11=
@9@5xe" stroked=3D"f"><V:stroke joinstyle=3D"miter"><V:formulas><V:f eqn=3D=
"if lineDrawn pixelLineWidth 0"><V:f eqn=3D"sum @0 1 0"><V:f eqn=3D"sum 0 0=
 @1"><V:f eqn=3D"prod @2 1 2"><V:f eqn=3D"prod @3 21600 pixelWidth"><V:f eq=
n=3D"prod @3 21600 pixelHeight"><V:f eqn=3D"sum @0 0 1"><V:f eqn=3D"prod @6=
 1 2"><V:f eqn=3D"prod @7 21600 pixelWidth"><V:f eqn=3D"sum @8 21600 0"><V:=
f eqn=3D"prod @7 21600 pixelHeight"><V:f eqn=3D"sum @10 21600 0"></V:f></V:=
f></V:f></V:f></V:f></V:f></V:f></V:f></V:f></V:f></V:f></V:f></V:formulas>=
<V:path gradientshapeok=3D"t" o:connecttype=3D"rect" o:extrusionok=3D"f"><O=
:lock aspectratio=3D"t" v:ext=3D"edit"></O:lock></V:path></V:stroke></V:sha=
petype></span></b><b style=3D"mso-bidi-font-weight: normal=3B"><span style=
=3D'font-family: "Tahoma"=2C"sans-serif"=3B'><O:p></O:p></span></b></div><b=
r>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><i style=3D"mso-=
bidi-font-style: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-se=
rif"=3B'>KS=2C from the series economic=20
portraits=2C 2001=2C exhibited at international 3=2C in=20
manchester.<O:p></O:p></span></i></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'line-height: 115%=3B font-famil=
y: "Tahoma"=2C"sans-serif"=3B font-size: 16pt=3B'>Tim=20
Stoner<O:p></O:p></span></b></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>How important is making money to=20
you?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> It'=
s a tool=2C it=20
allows me to make ideas and continue what I have been doing for at least 25=
=20
years. I live beyond my means and don't get too concerned with it unless it=
=92s=20
5th April.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Why can't everyone be=20
rich?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> I =
have no=20
idea=2C but the extremities between the richest and poorest make me quite=20
uncomfortable=2C i think its unsustainable. I think that China will change =
in the=20
next five years and it could change the global economic=20
landscape.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What do you want that you don't=20
have?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> No=
thing. I use=20
the best materials=2C so having more money will not change anything when I =
stand=20
in front of a canvas=2C I'm more concerned with my health and human=20
concerns.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>How do you make=20
money?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> I=
 just send=20
my accountant stuff and he lets me get on with making art and focusing on w=
hat=20
is important. <O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What would you change about the=20
economy</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'>?=
 I would=20
seriously restructure capitalism=2C I don't think that there is another sys=
tem=20
(yet) that can be imposed=2C nor work=2C so it's the best we have. I consid=
er the=20
ideas of John Maynard Keynes=2C and now Paul Krugman the most interesting i=
n terms=20
of future stability=2C without serious investment into infrastructure and s=
ocial=20
projects i think we are walking over the abyss. I would also address the ve=
ry=20
serious problem faced by the youth today=2C I think it's very unlikely that=
 they=20
will put up with things as they are for much longer.<O:p></O:p></span></div=
><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Can economics explain=20
everything?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=
=3B'> No. It=20
can't even explain economics.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Can economics explain=20
art?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> No=
=2C art is=20
about the human brain=2C and we know almost nothing about=20
it.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What would you tell a rich person/ a=20
poor person about the economy</span></b><span style=3D'font-family: "Tahoma=
"=2C"sans-serif"=3B'>? That there is more to life and one=20
day the sun will swallow the earth... enjoy it now<O:p></O:p></span></div><=
br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Why does some art cost millions=2C=20
while other art is hard to even give away?</span></b><span style=3D'font-fa=
mily: "Tahoma"=2C"sans-serif"=3B'> Because capitalism is about branding=20
and investment. If your brand has kudos then it is worth more. Whether that=
 has=20
anything to do with quality is an entirely different matter of=20
course.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Is there anything you would change=20
about the art economy? How do you price your paintings? How did you become =
a=20
successful artist?<O:p></O:p></span></b></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B'>Its complex because on one hand we=
=20
are discussing social phenomena=2C but on the other hand I see art as being=
 a=20
highly individualistic pursuit. The meeting point for me is that I believe =
that=20
the most individualistically expressive aspect of human nature is the resul=
t of=20
the most meritocratic and socially progressive=20
environment.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B'>I dont think that the art economy i=
s=20
any different from the *real economy*. As I said before its not something t=
hat I=20
think about too much=2C I have other more pressing issues like how to get a=
=20
precise colour or composition. I explain my world much more comprehensively=
=20
using these means than words or systems.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B'>I'm not sure whether I am successfu=
l=20
in the material sense that people think 'success' is based upon nowadays. I=
 am=20
more interested in finding success in making better opportunities for my id=
eas=2C=20
which is why as soon as the recession bit in the UK I moved to a huge studi=
o in=20
Spain and worked away from the *art-world*. I spent large reserves of my ow=
n=20
capital funding new ideas=2C regardless of the outcome: Recession is a time=
 of=20
opportunity for artists. <O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B'>There is far too much clutter and=20
nonsense around artists 'careers'=2C I became very cynical about this after=
=20
winning the Becks Futures at the ICA more than a decade ago=2C because the=
=20
art-world-economic expectation was to continue doing the same thing so that=
 I=20
could feed collector demand=2C I think that this obsession with 'the next n=
ew=20
thing' is the biggest problem that the 'scene' has (for want of a better wo=
rd).=20
Change and development are necessary in order to generate new ideas and fur=
ther=20
ones vision=2C and capitalism does not create much space for this. The obje=
ctive=20
is not to 'get into the game'=2C that's easy. The objective of success is t=
o stay=20
in the game=2C and that's difficult.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B'>I picture the economy as it has=20
always been - as churchill said=3B 'with the monarch as the apex of the feu=
dal=20
pyramid'..... and I guess the majority of us at the bottom=2C pretty immobi=
le.=20
Sadly the pyramid has become more obtuse over the last ten=20
years.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'line-height: 115%=3B font-famil=
y: "Tahoma"=2C"sans-serif"=3B font-size: 16pt=3B'>Kiera=20
Bennett<O:p></O:p></span></b></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>How important is making money to=20
you?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> Wel=
l=2C on=20
reflection it can't be that important because I've reached 41years of age a=
nd=20
made very little by continuing to pursue something that is not =2C so far=
=2C very=20
lucrative - I've even stopped making work that started to sell very well as=
 I=20
wanted to follow other lines of logical investigation that those previous b=
uyers=20
weren't so keen on or 'got' ('inconsistency' I believe its described as - I=
 call=20
it 'integrity'!!)...having said that I need to make money to make more work=
 and=20
to some extent preserve the sanity that comes with a greater sense of secur=
ity=20
i.e. if you've not got enough to pay rent or buy art materials it can affec=
t=20
ones freedom to make work...and makes me tired and frustrated - the worries=
 feed=20
my insomnia...just enough not to worry is enough I think...but I'm not sayi=
ng=20
that I wouldn't thrive on and enjoy being loaded I'm not totally averse to=
=20
obscene shopping sprees- I do think I'd make more work if I had more money=
=2C=20
bigger studio etc.. I'd like to not HAVE to be 'creative' in every aspect o=
f my=20
life...cash flow is definitely beneficial to a degree (but didn't Jarvis Co=
cker=20
say he found it hard to write good songs when he became rich and famous) ho=
wever=20
with painting I think money can help=2C it allows you to make those things =
you=20
want to and gives you time...fame or gallerists etc 'may' interfere with=20
'integrity' but I think money alone can help.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Why can't everyone be=20
rich?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> Wh=
y can't=20
everyone be healthy? Why do bad things happen to good people and good to ba=
d?=20
Because life is unfair and to be honest how weird would that be?.. there'd =
be no=20
benchmarks or differences we'd all be the same so no one would be rich?! ma=
ybe=20
love would become a desirable commodity? ..I'm sad that some are very poor=
=2C<span style=3D"mso-spacerun: yes=3B">  </span>I don't want to see povert=
y and of course I=20
ask myself that question but if you're talking 'RICH' + everyone was 'rich'=
 it=20
may be a scary world to live in..it may be interesting 'everyone' having a =
say=20
in what is most commercially attractive..not sure if art would have much pl=
ace=20
in that though..sounding a bit like a misanthrope now but going on majoriti=
es=20
and most popular newspapers read etc I wouldn't have much faith in 'good' a=
rt=20
having much of a role+in some cases that 'character building' 'fight'+resul=
ting=20
creativity may vanish but then so may bitterness and anger=2C who knows=2C =
we'll=20
never know - (mind you it would be funny if the likes of some of the useles=
s=20
'celebrity' rich had no reason to feel superior)- pessimistically I don't t=
hink=20
harmony would ensue...+sadly elitism has its good points.....having said th=
at I=20
could buy art and I'd buy really good stuff - (back and forth - I could waf=
fle=20
on for ages but won't bore you -- will try to be concise from here on in)<s=
pan style=3D"mso-spacerun: yes=3B">   </span><O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What do you want that you don't=20
have?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> be=
sides=20
guaranteed health and long life for all those I love and me!? ...more money=
=20
absolutely ....and a platform to get my paintings seen by more=20
people<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>How do you make=20
money?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> H=
a I don't -=20
no seriously=2C I sell some work and have a fairly regular lecturing=20
job<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What would you change about the=20
economy?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'>=
 the 'type'=20
of people running it - but where do you find the kind of people who would r=
un it=20
better that wouldn't rather 'switch off their televisions sets and go out a=
nd do=20
something less boring instead'<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Can economics explain=20
everything?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=
=3B'> What=20
'life=2C the universe and everything'? Of course not but boringly it seems =
to crop=20
up in most discussions on most things<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Can economics explain=20
art?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> No =
it can't=20
deal with the complexities and subtleties of thought involved=2C materialit=
y in=20
relation to subject=2C philosophy etc etc it's a science and although art=20
/maths/science have links there's a chasm between them.=20
<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What would you tell a rich person/ a=20
poor person about the economy?</span></b><span style=3D'font-family: "Tahom=
a"=2C"sans-serif"=3B'> I am poor (warning cliche pending -=20
but rich in other ways !!) very little actually<span style=3D"mso-spacerun:=
 yes=3B"> =20
</span>- I'm unqualified=2C not sure how to begin saying anything about it =
and=20
have more important paintings and people to think about - how does it affec=
t me=20
'the economy' I'm really not sure=2C as an artist who lives very frugally=20
(relatively speaking - yeah everything's relative) I know my rent is expens=
ive=20
I'm aware there are very rich and very poor but what to say - I don't=20
know?<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Why does some art cost millions=2C=20
while other art is hard to even give away</span></b><span style=3D'font-fam=
ily: "Tahoma"=2C"sans-serif"=3B'>? Who the artist is and knows -=20
branding - death -association/validation - galleries -<span style=3D"mso-sp=
acerun: yes=3B">  </span>who's bought them - there's tonnes of equally=20
good or better artists that don't hit the wave at the right point time and =
time=20
again - it has very little to do with quality of art but it can affect=20
importance of it..some work is made important by those who validate it=2C w=
ho says=20
its good =96 doesn't mean it is=2C but it can be! I just wish fewer people =
confused=20
value with price.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Is there anything you would change=20
about the art economy? </span></b><span style=3D'font-family: "Tahoma"=2C"s=
ans-serif"=3B'>The art economy=2C the economy?!=20
...having sent these questions to us on the eve of the news of the confirma=
tion=20
of the 'double dip' and all the recent headlines I feel that you=2C Jasper=
=2C are=20
truly the king of PR and I truly admire your tenacious approach to 'doing' =
and=20
making shows and debate happen...(enough ego massage now) but I discussed t=
his=20
with my other 'alf Alex Gene Morrison=2C how =2Cwith slight guilty selfishn=
ess=2C the=20
recession has only affected us slightly - rent gone up=2C stuff pricier but=
 has=20
barely made a dent on our accustomed to state of 'being in the red'...we al=
ways=20
are=2C to varying degrees.. so I feel a bit immune to this...in terms of ch=
anging=20
things about the art economy anything an artist may say negatively could be=
=20
construed as 'bitter and twisted' - the dreaded 'unsuccessful failed artist=
=20
rant' which in itself is annoying and leaves one in a no-win situation...I'=
ve=20
tried hard not to seem or feel bitter but when commenting on possible negat=
ives=20
i.e. things that could be changed it invariably comes across like=20
that!!<br><br>I would certainly like for there to be less emphasis on 'the =
next=20
art star/celebrity' type mentality - buying cheap from degree level - I'm n=
ot=20
denying the benefits of the couple of major art collectors - who provide=20
fantastic opportunity but with such an emphasis on buying into such young=20
potential it creates a system of underdeveloped potential=2C (possibly) bei=
ng=20
arrested and a 'product' (variations on a theme ) being the core of current=
 art=20
making (have you found your 'thing'?) or that possible potential not really=
=20
being quite so interesting long term (sadly occasionally some careers for t=
he=20
odd charlatan maybe? - but this happens in all walks of life) - and then fo=
r all=20
those young art students who don't 'arrive' as soon as the degree show is d=
one=20
there is disappointment - I read an article by Jules Olitski - he said that=
=20
young artists these days expect a solo show and gallery as soon as their fi=
rst=20
pubic hair appears...but then it has probably been thus for a very long=20
time...Olitski also dreamed of finding his 'Kahnweiler' - as artists we DO =
need=20
financial support - a fairy godmother(!!?) - exposure -a platform to show w=
ork=20
but it is a delicate line between that which 'enables' you to make art and =
being=20
part of an 'industry' making a 'product' - there's a lucky few who have the=
ir=20
cake and eat it and there is some great contemporary art out there being ma=
de by=20
really interesting artists doing really well (successful)...it's not like s=
ome=20
other art forms - like a jobbing actor or writer=2C other creative people d=
on't=20
necessarily need a studio/space/materials etc to evolve the work=2C daily '=
time'=20
to 'make'- money does matter and is important to 'enable' - it's great that=
=20
there are a couple of collectors who=2C I think=2C on the whole do a great =
job in=20
supporting young (and older) artists but it's very limited and the brit art=
=20
market seems to be controlled by a very very small handful of people=20
(gallerists/collectors)..who may or may not be qualified to recognise the b=
road=20
range of what is 'good art' - the ones bought are 'verified' and pretty muc=
h=20
secured some sort of future within the 'art world' - it has to become a=20
commodity as it's been invested in so therefore 'will' become desirable! So=
 the=20
decisions of collectors really impact on what artists make - fashion is=20
fashionable!! <br><br>I'm glad of some of the artist run spaces - I'm glad =
a=20
bunch of us did that for a while ( Rockwell - Dalston - 2002 -7) Gavin Nola=
n=2C=20
Reece Jones=2C Alex Gene Morrison=2C Chris Davies - set it up - we showed a=
rtist's=20
we rated gave them a space to show work - non profit=2C just about showing =
and=20
talking about interesting art...but it is tough without financial back up -=
 but=20
possible ...in the 'BIG ART market' the actual work (whether it's good or n=
ot)=20
is confused on a critical level with a whole host of other things - who sho=
ws=20
it=2C who gave it validation=2C who the artist knows=2C how old the artist =
is=2C( SO=20
many people have potential at 20!) who the artist is...etc <br><br><b style=
=3D"mso-bidi-font-weight: normal=3B">How do I price my paintings?</b> - it =
goes=20
on what they've sold for before=2C mainly - also scale I guess - smaller ch=
eaper!=20
- what people will pay for them - I have actually sold quite a few things t=
o=20
other artists (Cornelia Parker=2C Julian Opie=2C Mario Testino and others**=
*(don't=20
need to leave that in makes me look like a bragger! - just saying!))- I rea=
lly=20
like this - those I know genuinely love it - absolutely no 'investment' cri=
teria=20
involved (I don't think=2C unless they're being VERY savvy and maybe they c=
an be=20
more than most?! - that only just occurred to me) ...mmm it IS important to=
 me=20
who 'gets' or likes my work...<br><b style=3D"mso-bidi-font-weight: normal=
=3B"><br>How did you become a successful=20
artist?</b> I guess I consider my success to be that I can continue to make=
 work=20
and I teach painting so I pretty much do what I've always done - which is g=
reat=20
- but financially speaking and having galleries=2C a larger audience I'm no=
t at=20
all successful - I do want further freedom to make more work and have a wid=
er=20
audience (and money! - would like to live in a larger than 'pea-sized' flat=
 -=20
have room to put up all the art Alex and I have accumulated (swapping and=20
gifts)- be able to buy some art - paint my own front door etc ) but I'm doi=
ng=20
OK=2C I show a lot - not many solo=2C but I consistently get stuff out ther=
e and=20
manage to pursue my evolving ideas- I do have a dream of having major Solo =
shows=20
that lots of people see but that I have total control over ( no compromises=
!!)=20
is that possible?! I'm ambitious and try hard to work out why a 'Gallery' m=
ay be=20
such a great thing - I think it would be=2C but would it affect my freedom =
as an=20
artist?? I dunno=2C would the benefits I dream of=2C being hugely financial=
ly=20
successful=2C actually alter my ability to explore and make paintings I bel=
ieve=20
in?? i like to think not - not in a negative way=2C anyway....?<br><br><b s=
tyle=3D"mso-bidi-font-weight: normal=3B">How do I picture the economy?</b>=
=20
visually?...probably a graph 'cus that's what I keep being shown!! or a pil=
e of=20
cardboard boxes !<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'line-height: 115%=3B font-famil=
y: "Tahoma"=2C"sans-serif"=3B font-size: 16pt=3B'>Nigel=20
Spalding<O:p></O:p></span></b></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>How important is making money to=20
you?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'><spa=
n style=3D"mso-spacerun: yes=3B">  </span>More important than not making en=
ough money=20
to not be able to stand on my own two feet. <O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Why can't everyone be=20
rich?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> Wh=
at do you=20
mean by rich? Why can=92t everyone be poor? Why are we individual?=20
<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What do you want that you don't=20
have?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> I =
do not know.=20
World Peace? Sometimes you do not miss what you do not have or do not know=
=20
exists=85.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What would you change about the=20
economy</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'>?=
 Not sure I=20
would know how to do that and if there are even any changes that would crea=
te a=20
=91=92better=92=92 outcome than that that already exists=85=85<O:p></O:p></=
span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Can economics explain=20
everything?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=
=3B'> No. (Not=20
all economists can agree with each other=85)<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Can economics explain=20
art?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'> Not=
 sure it=20
can<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What would you tell a rich person/ a=20
poor person about the economy?</span></b><span style=3D'font-family: "Tahom=
a"=2C"sans-serif"=3B'> Nothing comes to mind =96 but that=20
depends what they ask me and whether I can answer=20
them=85.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Why does some art cost millions=2C=20
while other art is hard to even give away?</span></b><span style=3D'font-fa=
mily: "Tahoma"=2C"sans-serif"=3B'> Marketing &amp=3B publicity can play=20
it=92s part =85.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>How have the recent economic problems=20
and on-going recession affected you?</span></b><span style=3D'font-family: =
"Tahoma"=2C"sans-serif"=3B'>Harder to borrow money to buy=20
property. You need a bigger deposit to buy and then you have more hoops to =
jump=20
through to get the mortgage. Buy-to-let landlords have to put 40% to get th=
e=20
best loan rates (which are around 4%).<span style=3D"mso-spacerun: yes=3B">=
 =20
</span>Pre-credit crunch you could borrow 85% to get the best interest rate=
s=20
(then around 5%).<span style=3D"mso-spacerun: yes=3B">  </span>On the other=
 hand=20
pre-credit crunch borrowing has dramatically reduced (so costs have reduced=
) and=20
rents are now rising =96 therefore income is increasing. So pre-credit crun=
ch=20
landlords are in a good position now. But although rents are increasing it =
is=20
very hard to expand to meet rental demand because hard to borrow of the cre=
dit=20
crunch =96 so rents will carry on rising as supply of rental stock will not=
 keep=20
up with demand.<span style=3D"mso-spacerun: yes=3B">  </span><b style=3D"ms=
o-bidi-font-weight: normal=3B"><O:p></O:p></b></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Why do you think it has happened?=20
</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'>The Cred=
it crunch=20
means that demand for rental stock has increased. Would-be owner-occupiers =
have=20
to rent for longer as they need to save a larger deposit to buy somewhere.=
=20
Longer term renters are seeing their costs increase so they have less money=
 to=20
spend on other things. <b style=3D"mso-bidi-font-weight: normal=3B"><O:p></=
O:p></b></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>What should we do about it?=20
</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'>Lower ta=
xes =96=20
because disposable income is being eroded by inflation. This means people h=
ave=20
less money to spend and this is therefore bad for the economy as people wil=
l cut=20
back on spending. This means sectors dependent on consumer spending (65% of=
 the=20
economy or more?) are under pressure - that could result in job losses=85..=
<b style=3D"mso-bidi-font-weight: normal=3B"><O:p></O:p></b></span></div><b=
r>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Can the UK government do much about=20
it?</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'>The m=
ajority of=20
jobs created are by small businesses I think =96 so the Government should b=
e=20
reducing red tape and lowering taxes for new businesses etc - to help kick =
start=20
and increase employment. (The high level of debt that we have as a country =
does=20
tie the hands of the State to increase spending more than it is currently d=
oing=20
as increasing the debt may send the wrong message to the debt markets and t=
hey=20
may start charging more interest on the loans the UK government has borrowe=
d if=20
they think that the money is not being spent well enough and will not be pa=
id=20
back=85=85. Higher government borrowing costs would not be very helpful to =
the UK!!=20
This would mean less money can be allocated to spending on essential=20
services.)<span style=3D"mso-spacerun: yes=3B">  </span>I think for everyon=
e =A35 spent=20
by the state at the moment =A34 is borrowed=85=85 is that correct? Also the=
 10%=20
richest pay about 58% of all taxes the State collects. These figures can be=
=20
checked with ONS. <b style=3D"mso-bidi-font-weight: normal=3B"><O:p></O:p><=
/b></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b><span style=
=3D'font-family: "Tahoma"=2C"sans-serif"=3B'>You are economically successfu=
l. How=20
did you achieve this? </span></b><span style=3D'font-family: "Tahoma"=2C"sa=
ns-serif"=3B'>I am not sure that is the case=85=85I and=20
my partner have had success in property because=2C to some extent=2C the ma=
rket=20
allowed it=85.by that I mean inflation in property in London since 1993 has=
 been a=20
one way bet. So if you invested in property at the right time then you coul=
d not=20
go wrong=85..we fell into it by circumstances. It was never planned origina=
lly.=20
<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b><span style=
=3D'font-family: "Tahoma"=2C"sans-serif"=3B'>How do you choose the art you =
buy?=20
</span></b><span style=3D'font-family: "Tahoma"=2C"sans-serif"=3B'>I have t=
o like it=20
first =96 that involves connecting with it and relating to it and understan=
ding=20
what the artist and the artist=92s intentions. It is personal taste at the =
end of=20
the day and there is no accounting for taste! <O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b><span style=
=3D'font-family: "Tahoma"=2C"sans-serif"=3B'>Do people criticise/envy/ or t=
reat=20
you differently for being well off?<br></span></b><span style=3D'font-famil=
y: "Tahoma"=2C"sans-serif"=3B'>I am not well off enough! In any=20
case=2C I would like to think am I treated for who I am and not what people=
 may=20
think I have=85..One of the most valuable commodities is friendship and I w=
ould=20
not like anything to get in the way of that=85..<O:p></O:p></span></div><br=
>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>How do you picture the economy<span style=3D"mso-spacerun: yes=3B=
">  </span>I mean visually)?</span></b><span style=3D'font-family: "Tahoma"=
=2C"sans-serif"=3B'> A =91=92LIVING=92=92=20
ENTITY<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'line-height: 115%=3B font-famil=
y: "Tahoma"=2C"sans-serif"=3B font-size: 16pt=3B'>Erik=20
Empson<O:p></O:p></span></b></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Can economics explain=20
art?<O:p></O:p></span></b></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B'>I think if it could=2C it would imp=
ly a=20
worrying condition=2C one perhaps where doomsayer claims about the totalisi=
ng and=20
subsuming logic of capital were borne out. But in many respects art is alwa=
ys a=20
scandal to the reductive mindset of economics that seeks to reduce everythi=
ng to=20
instrumental rationality and discrete ends orientated individuals ruthlessl=
y=20
pursuing self-interest. Clearly art has utility=2C as aesthetic experience=
=2C but to=20
measure and modulate that in the way we do other commodities (and in a mann=
er=20
that many speculators would desire to and to a certain extent practice [I=20
remember an antiques dealer telling me that=2C I think it was the price of=
=20
paintings by Constable but it might not have been=2C could be pretty much=20
accurately measured by the square inch) would have to undermine that aesthe=
tic=20
function itself=2C and bind it to standards entirely foreign to the freedom=
 on=20
which the opening up and practice of aesthetic experience is preconditioned=
.=20
When it comes to economy=2C or general economy to use Bataille's concept=2C=
 I am=20
torn between seeing the very possibility of art lying in a economic surplus=
=2C=20
i.e. as a result of social cooperation=2C that results out of abundance and=
 free=20
time for what Bataille call's unproductive consumption=2C abandon=2C waste=
=2C=20
transgression and experimentation=2C and alternatively as the very basis on=
 which=20
social solidarities can form in the first place (either in ceremonial excha=
nge=2C=20
as in Potlach=2C or through shared sacred objects or fetishes=2C that allow=
 for a=20
symbolic order=2C and thus language and so on to develop.) Of course these =
two=20
ways of thinking about it do not entirely exclude one another=2C but they d=
o place=20
art=2C as should be done with the economy=2C as part of a wider set of soci=
al=20
relations. Possibly we can not make art until our other needs are satisfied=
=2C it=20
is a secondary extravagance that we do when we have created space and time =
to=20
create=2C or alternatively=2C the lack of that surplus forces humans to dev=
ise (as=20
through religion) a way of dealing with scarcity. </span><b style=3D"mso-bi=
di-font-weight: normal=3B"><span style=3D'line-height: 115%=3B font-family:=
 "Tahoma"=2C"sans-serif"=3B font-size: 16pt=3B'><O:p></O:p></span></b></div=
><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B'>There is another unique property or=
=20
oddity of art commodities that are important to address in understanding ar=
t's=20
relation to sociability as to other questions=2C namely the fact that like =
no=20
other commodity=2C the value of art (reflected in price) can increase as ar=
t is=20
consumed=3B unlike a mars bar which turns to shit on being consumed=2C the =
more=20
people that see a painting or talk about it=2C i.e. consume it=2C the more =
it can=20
increase in value. We can see this a little in things like religious relics=
=2C the=20
object absorbs (and in some cases appear to embody) the social energies tha=
t it=20
reflects.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B'>One thing we can be sure of is that=
=20
the art market is not a freemarket=2C it is regulated=2C price-fixed=2C mon=
opolised=2C=20
subject to robbery=2C bribery and all the rest=2C and in this sense it is a=
=20
microcosm of the wider economy=2C rife with privilege=2C inequality=2C nepo=
tism and=20
all the rest. But the question is more complicated today=2C not least becau=
se of=20
the claim that capitalism itself has undergone a transformation in which th=
e=20
creative use of social intelligence is now fundamental to economic valorisa=
tion=20
which supposedly previously followed a simpler logic of just producing more=
=20
things more cheaply. So called 'immaterial labour'=2C the knowledge economy=
=2C the=20
production of affect=2C if central now to advanced capitalist economics=2C =
and as=20
implicitly recognised by the explanations of the art market as driven by br=
and=20
and image and so on=2C gives a special place to the artist as one who can c=
ondense=20
or distil social consciousness and help its valorisation. That the artist i=
s not=20
necessarily rewarded for this=2C even less the hordes of unpaid workers and=
=20
interns (see the Carrot Workers collective for people who organise around t=
his=20
issue in the art world) and is often a conduit for the money making of othe=
rs=2C=20
shouldn't blind us to the significance of the transformation (if it is trul=
y=20
so)=2C for it would shift art from being at the margins of social experienc=
e=20
(marginal that is to people with a one way ticket on the money making gravy=
=20
train) back to its central role in mediating social experience and facilita=
ting=20
new forms of life and love.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B'>As for economic change. Pity that i=
n=20
a country with such a long tradition of utilitarian thought that one small =
thing=20
that no one ever mentions in relation to this so-called crisis=2C is how ea=
sily=20
certain problems could be fixed if we requisitioned even a small portion of=
 land=20
from some of Britain's largest landowners=2C starting with the queen and wo=
rking=20
down=2C and used it to build homes for the needy and provide jobs for the w=
orthy.=20
This would be a part of a scheme that sought to extend homeownership to eve=
ryone=20
that lives in the uk=2C giving them a stake in their communities=2C economi=
c=20
security and a real choice over what they do with their=20
lives.<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Are there any common misconceptions=20
about the economy you would like to clear up? </span></b><span style=3D'fon=
t-family: "Tahoma"=2C"sans-serif"=3B'>I think one of the biggest=20
misconceptions that needs addressing is the need for growth. Our economies =
only=20
'need' to grow because they are based on debt and the whole economy is gear=
ed=20
not to the satisfaction of needs=2C but profit for these creditors and othe=
rs.=20
Remove this debt element - a political problem - and you have a different s=
et of=20
challenges i.e. minimising exploitation=2C waste=2C harmful and unsustainab=
le=20
practices and inefficiency and freeing up time and resources for other=20
pursuits.<br><br><b style=3D"mso-bidi-font-weight: normal=3B">What would yo=
u tell a 7=20
year old about the economy?</b> I would probably tell a seven year old some=
thing=20
that good economics are systems of fairly satisfying and guarantee the basi=
c=20
needs of the entire human population of the planet=2C that to have these is=
 a=20
difficult challenge but one worth trying for and that any other economics i=
s=20
just hogwash<b style=3D"mso-bidi-font-weight: normal=3B"><O:p></O:p></b></s=
pan></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'line-height: 115%=3B font-famil=
y: "Tahoma"=2C"sans-serif"=3B font-size: 16pt=3B'>Joseph=20
Clements<O:p></O:p></span></b></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><b style=3D"mso-bidi-font-weight: normal=3B"><sp=
an style=3D'color: black=3B font-family: "Tahoma"=2C"sans-serif"=3B mso-far=
east-language: EN-GB=3B mso-fareast-font-family: "Times New Roman"=3B'>How=
=20
important is making money to you?<O:p></O:p></span></b></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
To the extent that it pays for peace of mind (and health costs) and provide=
s=20
some margin in life=2C in the event of... I find it beneficial to my=20
well-being.<O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><b style=3D"mso-bidi-font-weight: normal=3B"><sp=
an style=3D'color: black=3B font-family: "Tahoma"=2C"sans-serif"=3B mso-far=
east-language: EN-GB=3B mso-fareast-font-family: "Times New Roman"=3B'>Why=
=20
can't everyone be rich?<O:p></O:p></span></b></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
Being rich is a relative concept=2C so if everyone was rich=2C no one would=
 be rich?=20
Having said that=2C many more people could be richer after a re-distributio=
n of=20
wealth. Most rich people are rich by accident of birth=2C so re-distributio=
nal=20
policies are fair in the sense that they redress the arbitrariness of birth=
 and=20
good/bad luck. Here is the view of a colleague of mine: =93That depends on =
how you=20
define =91rich=92. Social wealth is limited by the amount of things availab=
le for=20
appropriation=2C and it is measured by some socially accepted standard. Ano=
ther=20
standard establishes the threshold for being 'rich'.=94<br><br><b style=3D"=
mso-bidi-font-weight: normal=3B">What do you want that you don't=20
have?</b><O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
Some kind of property perhaps. <O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'><br><b style=3D"mso-bidi-font-weight: normal=3B">=
How do you make=20
money?<O:p></O:p></b></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
In a salaried job - as a colleague remarked=2C =93a salary payment material=
ises in=20
my bank account at the end of each month without having any direct relation=
ship=20
to what I produce=85=94 <O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'><br><b style=3D"mso-bidi-font-weight: normal=3B">=
What would you change about the=20
economy?<O:p></O:p></b></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
For starters: less austerity=2C less privatization of public services=2C en=
d tax=20
havens and non-productive financial speculation.<br><br><b style=3D"mso-bid=
i-font-weight: normal=3B">Can economics explain=20
everything?</b><O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
No=2C although it is interesting reading some economists=92 attempts to do =
so =96 at=20
best they are playful and fun=2C like the Freakonomics author Steve Levitt =
who=20
explains why crack dealers still live with their mums=3B at worst=2C they e=
xert an=20
unwarranted influence on policymakers which can have undesirable=20
consequences.<O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'><br><b style=3D"mso-bidi-font-weight: normal=3B">=
Can economics explain=20
art?<O:p></O:p></b></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
See above answer<O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'><br><b style=3D"mso-bidi-font-weight: normal=3B">=
What would you tell a rich person/ a poor=20
person about the economy?<O:p></O:p></b></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
More or less the same things<O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><b style=3D"mso-bidi-font-weight: normal=3B"><sp=
an style=3D'color: black=3B font-family: "Tahoma"=2C"sans-serif"=3B mso-far=
east-language: EN-GB=3B mso-fareast-font-family: "Times New Roman"=3B'>Why=
=20
does some art cost millions=2C while other art is hard to even give away?=20
<O:p></O:p></span></b></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
Taste=2C and the ability of some people to create a market (cf. the Dutch t=
ulip=20
bubble in the 17<sup><span style=3D"font-size: x-small=3B">th</span></sup>c=
entury and=20
art as an asset class). Or=2C as a colleague put it: =93supply and demand d=
etermines=20
the price of non-reproducible commodities manufactured in artisan=20
workshops.=94<O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>Are=20
there any common misconceptions about the economy you would like to clear u=
p?=20
<O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
Plenty=3B the idea that economies are the same as households for starters.=
=20
<O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><b style=3D"mso-bidi-font-weight: normal=3B"><sp=
an style=3D'color: black=3B font-family: "Tahoma"=2C"sans-serif"=3B mso-far=
east-language: EN-GB=3B mso-fareast-font-family: "Times New Roman"=3B'>What=
=20
would you tell a 7 year old about the economy?<O:p></O:p></span></b></div><=
br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
Looking at what happened during the last financial crisis=2C it seems obvio=
us that=20
children should have some kind of economics and finance education. We are=20
regularly sold junk by salesmen and politicians in every form=2C and financ=
ial=20
products and the economy are no exception. <O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><b style=3D"mso-bidi-font-weight: normal=3B"><sp=
an style=3D'color: black=3B font-family: "Tahoma"=2C"sans-serif"=3B mso-far=
east-language: EN-GB=3B mso-fareast-font-family: "Times New Roman"=3B'>How=
=20
did you end up working in economics?<O:p></O:p></span></b></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
An interest in the area of economic development=2C some qualifications=2C a=
nd then=20
serendipity.<O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><b style=3D"mso-bidi-font-weight: normal=3B"><sp=
an style=3D'color: black=3B font-family: "Tahoma"=2C"sans-serif"=3B mso-far=
east-language: EN-GB=3B mso-fareast-font-family: "Times New Roman"=3B'>How=
=20
have the recent economic problems and ongoing recession affected=20
you?<O:p></O:p></span></b></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
I live in Switzerland and so the ongoing sovereign debt crisis in the Euroz=
one=20
has benefited me to the extent that it has strengthened the Swiss franc=2C =
but I=20
don=92t really notice this as I tend to buy stuff in Switzerland=2C which s=
till=20
remains a very expensive place to live. <O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><b style=3D"mso-bidi-font-weight: normal=3B"><sp=
an style=3D'color: black=3B font-family: "Tahoma"=2C"sans-serif"=3B mso-far=
east-language: EN-GB=3B mso-fareast-font-family: "Times New Roman"=3B'>Why=
=20
do you think it has happened?<O:p></O:p></span></b></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
The recession? The de-regulation and liberalisation of financial markets=2C=
=20
products (notably securitisation) and capital flows was intended to fuel gr=
owth=20
but contributed to the creation of a private debt crisis. Due to the increa=
sing=20
interconnectedness of the global economy=2C this debt was spread throughout=
 the=20
financial system and had the potential to impact the real economy across=20
regions. Instead of dispersing risk=2C this kind of debt-driven growth in f=
act=20
left more countries=2C sectors and jobs exposed to the looming debt crisis.=
 The=20
subsequent=2C rapid de-leveraging of the debt led to a recession in many re=
gions=2C=20
characterised by falling real wages=2C growing unemployment and low growth =
rates.=20
The policy response=2C which included in some cases the nationalisation of =
debt=20
through bail-outs and government intervention=2C averted a meltdown of the =
global=20
monetary system but has so far been insufficient to raise the global econom=
y out=20
of recession.<O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><b style=3D"mso-bidi-font-weight: normal=3B"><sp=
an style=3D'color: black=3B font-family: "Tahoma"=2C"sans-serif"=3B mso-far=
east-language: EN-GB=3B mso-fareast-font-family: "Times New Roman"=3B'>What=
=20
should we do about it?<O:p></O:p></span></b></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
There are many things that could be done at both the international and nati=
onal=20
levels that could boost growth and stability in the global economy in the s=
hort=20
term=2C and lift countries out of recession. In the longer term=2C I could =
also=20
highlight many areas where I believe more action needs to be taken: for exa=
mple=2C=20
I think we need to re-regulate the financial sector=2C and I think we need =
to=20
address the funding and lobbying links between firms and governments=2C mak=
ing=20
them more transparent and reversing the =91capture=92 of public offices by =
private=20
interests (I=92m looking at certain media organisations and banks=2C for ex=
ample).=20
<O:p></O:p></span></div><br><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><b style=3D"mso-bidi-font-weight: normal=3B"><sp=
an style=3D'color: black=3B font-family: "Tahoma"=2C"sans-serif"=3B mso-far=
east-language: EN-GB=3B mso-fareast-font-family: "Times New Roman"=3B'>Can=
=20
the UK government do much about it?<O:p></O:p></span></b></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><span style=3D'color: black=3B font-family: "Tah=
oma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-fareast-font-fami=
ly: "Times New Roman"=3B'>-=20
During a recession=2C when individuals and the private sector are either=20
constrained in their spending=2C do not want to spend (believing prices wil=
l fall=20
further)=2C or cannot get access to credit=2C the government has a role to =
play in=20
stimulating economic activity through spending and tax cuts. My personal vi=
ew is=20
that the government should be doing this now.<O:p></O:p></span></div><br>
<div style=3D"background: white=3B margin: 0cm 0cm 0pt=3B line-height: norm=
al=3B" class=3D"MsoNormal"><br></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><b style=3D"mso-=
bidi-font-weight: normal=3B"><span style=3D'font-family: "Tahoma"=2C"sans-s=
erif"=3B'>Economics a painting show by Jasper=20
Joffe opens August 9th</span></b></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B'>Private View: Thursday 9 August 201=
2=20
6 - 9 pm <O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B'>10 August to 18 August open on Thur=
s=2C=20
Fri=2C Sat=2C 12 =96 5 pm<br>Chateau Joffe=2C Shoreditch=2C London<br>Unit =
3=2C 7C Plough=20
Yard=2C EC2A 3LP<br>Liverpool Street or Old Street tubes<br>T: 079571=20
36066<O:p></O:p></span></div><br>
<div style=3D"margin: 0cm 0cm 10pt=3B" class=3D"MsoNormal"><span style=3D'f=
ont-family: "Tahoma"=2C"sans-serif"=3B mso-fareast-language: EN-GB=3B mso-n=
o-proof: yes=3B'><V:shapetype id=3D"_x0000_t75" coordsize=3D"21600=2C21600"=
 filled=3D"f" o:preferrelative=3D"t" o:spt=3D"75" path=3D"m@4@5l@4@11@9@11@=
9@5xe" stroked=3D"f"><V:stroke joinstyle=3D"miter"><V:formulas><V:f eqn=3D"=
if lineDrawn pixelLineWidth 0"><V:f eqn=3D"sum @0 1 0"><V:f eqn=3D"sum 0 0 =
@1"><V:f eqn=3D"prod @2 1 2"><V:f eqn=3D"prod @3 21600 pixelWidth"><V:f eqn=
=3D"prod @3 21600 pixelHeight"><V:f eqn=3D"sum @0 0 1"><V:f eqn=3D"prod @6 =
1 2"><V:f eqn=3D"prod @7 21600 pixelWidth"><V:f eqn=3D"sum @8 21600 0"><V:f=
 eqn=3D"prod @7 21600 pixelHeight"><V:f eqn=3D"sum @10 21600 0"></V:f></V:f=
></V:f></V:f></V:f></V:f></V:f></V:f></V:f></V:f></V:f></V:f></V:formulas><=
/V:stroke></V:shapetype></span></div><span style=3D'font-family: "Tahoma"=
=2C"sans-serif"=3B'>Chateau Joffe presents a series of=20
paintings about economics: offices=2C Chinese and US factories=2C slaves=2C=
 labour=2C=20
bankers=2C mortgages and derivatives. All the images originate from the uni=
versal=20
image bank of Flickr. Joffe constructs a visual vocabulary of the abstract =
terms=20
which are used in discussing the economy.<O:p></O:p></span><br><br>
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=3D"http://4.bp.blogspot.com/-b007hOUsgo0/UBhAPHVUqmI/AAAAAAAAANA/MH7ZA2w3J=
YM/s640/image003.png" width=3D"640" height=3D"372" closure_uid_a8hpbi=3D"3"=
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