“Over the past decade – until, at least, global credit began to crunch our fun – the art world has developed into a high-turnover, high-visibility international activity that everyone wants a slice of. It’s an exponentially expanded system of artists, audiences, art markets, dealers, galleries, curators, critics, collectors, museums, institutes, foundations, biennials, triennials, quadrennials, fairs, auction houses, art schools, prizes, books, magazines, journals and consultancies. […] In recent months, though, this expansion has been tempered by anxiety. The tighter the credit crunch grips us, the louder you can hear the gloating of those who think a drop in auction prices and a swathe of galleries going under will somehow result in the disappearance of the present art system and the resurgence of some kind of prelapsarian art paradise unfettered by the evils of capitalism and what they perceive to be cultural con-artistry.” - story