Published online by Cambridge University Press: 23 November 2021
If a painting after all means more than an object for economic speculation, what does it mean?
W. McNeil Lowry, vice-president, Ford FoundationAccording to statistics published in the New York Times and Fortune, more than $3 billion was spent last year on “everything from Bach and the Beatles to Shakespeare, Shaw, the opera … Peter, Paul, and Mary … Monet and Melville.” Consumer spending in the arts jumped 130% between 1953 and 1960—about “twice as fast as spending on all recreation and better than six times as fast as outlays for spectator sports.”