The arts as commodities: a historical-economic analysis

This paper examines the relationships between economics – namely, capitalism – and the arts to shed a light on the market functioning and its impact on creative work. Adopting a historical-economic perspective, the paper analyses said relationship to unpack the dynamics of the creative industries, and what are the entailments of such dynamics, by distinguishing three main artistic fields of interest. These are examined extensively in each dedicated chapter. The first artistic field is the domain of the «visual arts», which are to be intended as those artworks in their most widespread and well-known connotation – painting, sculptures, architecture especially. The second is the field of the «multimedia arts», which comprehends disciplines such as photography, cinema, and music. Finally, the last area of research gives an outlook to the «literary arts», by resting specifically on the issue of the novel, which stands out among other literary genres throughout the rise of capitalist societies. With such a distinction being made, the paper aims to acknowledge art in its broadest nature, thus structuring the research throughout multiple realms of creative production which are all segmented in the market accordingly. It is thanks to this approach that the paper looks forwards to give an insightful contribution to the discipline of Cultural Economics by comparing different artistic disciplines which are, indeed, considered all to be equally «artistic» – thus disregarding common prejudices which often ranks more ancient forms of art higher than others in terms of prestige. Consequently, the research does not focus on a single artwork serving as a case-study or as a general example for the functioning of the art market, but rather works with a corpus of selected articles and essays. However, there will be a few artists – from painters to novelists – being mentioned in the study, although the research questions will not revolve specifically around those single cases. Some of the most notable contributions have been brought by Walter Benjamin, author of The Work of Art in the Age of Mechanical Reproduction, David Throsby, and Theodor Adorno, who are all classic authors in the field of Cultural Economics. Selected essays and articles by various authors were chosen from other key sources, which are the dedicated scientific journals, such as the Journal of Cultural Economics. The result is a bibliography including both classics and timeless works written in the early 1900s serving as a solid framework, and more recent and updated researchers to provide with contextualized information contributing to the final outcomes of this paper. Starting from the assumption that cultural and artistic goods had been given an industrial asset, the outcomes of this revolution affect the work of art itself and its relationships with its enjoyers – that have now become consumers. Overall, the research question carried throughout the entire research revolves around the commodification practices and the relationships between creative labor and the market, in all the declinations provided by each chapter. What are the variables in the pricing of a painting, to what extent can a major discographic company control the work of a musician, and why has the genre of the novel outshined the ars poetica over the last couple of centuries, are some of the questions this paper dwells upon. To answer them each chapter starts by summarizing and discussing the reading materials mentioned above while supporting the main points and ideas with proper examples according to the artistic branch which is referred to.