"The art world is bound to the economy," writes Julian Stallabrass. He notes that the spectacular crash of 1989 profoundly changed the character of contemporary art, shattering the art-world's self-importance and producing a reaction against art that engaged with theory and politics, in favor of art that set out to awe, entertain, and be sold. He describes the growth of biennials and other art events across the globe in the 1990s, the construction of new museums of contemporary art, and the expansion of many museums already in existence.

These activities, Stallabrass writes, have become steadily more commercial, as museums establish alliances with corporations, bring their products closer to commercial culture, and move from modeling themselves on libraries to becoming more like theme parks. He offers an insightful look at installation art, which is often seen as an art that firmly resists buying and selling, pointing out that installations appeal to museums precisely because a work of art that can only be seen on a particular site ensures that viewers have to go there.

Julian Stallabrass