Volume 10, Issue 2, 2013
Aesthetic Values and the Process of Civilization
Art as a Capital Asset
A framework for thinking about the social role of art is developed. Using economic ideas, art is depicted as a capital asset – something that provides insight to
society over some period of time. The idea of thinking about art as an asset enables a concrete distinction between high and low art, as well as the possibility that art can “race to the bottom,” with low art displacing high art, with the concomitant deleterious consequences.