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Daily Archives: June 20, 2016


CreditUpdates.com Discusses Art Industry Economics and the Impact of Modern Technology

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It is indeed a rare circumstance in which so few are able to exert so much influence on the economy of an entire industry, but such is frequently the case with the art industry. This is because of the longstanding system in which wealthy patrons are able to essentially manipulate the art market in whatever manner they choose, but the power they now wield over the market is far less than it once was. As is the case with many things, which CreditUpdates.com would be likely to point out, technology has played a central role in the manner in which the art economy now functions. Of course, this is not the first time that a new technological development has played a critical role in the art world.

Perhaps the most famous instance of technology’s immediately widespread impact on the art world occurred in the mid-1800s. Through the use of photography, artists suddenly had easy access to images that could be utilized in the production of all kinds of artistic works. While some of the masters of the time period were hesitant to take advantage of the prevalence of photographic imagery — or were at least hesitant to admit to taking advantage of its sudden prevalence — others happily utilized photographs in all manner of projects, many of which are now regarded as unquestioned masterpieces and are on display in galleries all over the world.