Art’s link with money is not new, though it does continue to generate surprises. On Friday night, Christie’s in London plans to auction another of Damien Hirst’s medicine cabinets: literally a small, sliding-glass medicine cabinet containing a few dozen bottles or tubes of standard pharmaceuticals: nasal spray, penicillin tablets, vitamins and so forth. This work is not as grand as a Hirst shark, floating eerily in a giant vat of formaldehyde, one of which sold for more than $12 million a few years ago. Still, the estimate of up to $239,000 for the medicine cabinet is impressive — rather more impressive than the work itself.

No disputing tastes, of course, if yours lean toward the aesthetic contemplation of an orderly medicine cabinet. Buy it, and you acquire a work of art by the world’s richest and — by that criterion — most successful living artist. Still, neither this piece nor Mr. Hirst’s dissected calves and embalmed horses are quite “by” the artist in a conventional sense. Mr. Hirst’s name rightfully goes on them because they were his conceptions. However, he did not reproduce any of the medicine bottles or boxes in his cabinet (in the way that Warhol actually recreated Brillo boxes), nor did he catch a shark or do the taxidermy.

In this respect, the pricey medicine cabinet belongs to a tradition of conceptual art: works we admire not for skillful hands-on execution by the artist, but for the artist’s creative concept. (…)

Since the endearingly witty Marcel Duchamp invented conceptual art 90 years ago by offering his “ready-mades” — a urinal or a snow shovel, for instance — for gallery shows, the genre has degenerated. Duchamp, an authentic artistic genius, was in 1917 making sport of the art establishment and its stuffy values. By the time we get to 2009, Mr. Hirst and Mr. Koons are the establishment.

Does this mean that conceptual art is here to stay? That is not at all certain, and it is not just auction results that are relevant to the issue. To see why works of conceptual art have an inherent investment risk, we must look back at the whole history of art. (…)

The appreciation of contemporary conceptual art, on the other hand, depends not on immediately recognizable skill, but on how the work is situated in today’s intellectual zeitgeist. That’s why looking through the history of conceptual art after Duchamp reminds me of paging through old New Yorker cartoons. Jokes about Cadillac tailfins and early fax machines were once amusing, and the same can be said of conceptual works like Piero Manzoni’s 1962 declaration that Earth was his art work, Joseph Kosuth’s 1965 “One and Three Chairs” (a chair, a photo of the chair and a definition of “chair”) or Mr. Hirst’s medicine cabinets. Future generations, no longer engaged by our art “concepts” and unable to divine any special skill or emotional expression in the work, may lose interest in it as a medium for financial speculation and relegate it to the realm of historical curiosity.

In this respect, I can’t help regarding medicine cabinets, vacuum cleaners and dead sharks as reckless investments. Somewhere out there in collectorland is the unlucky guy who will be the last one holding the vacuum cleaner, and wondering why.

{ Denis Dutton/NY Times | Continue reading }

The best explanation of the art market may be that it is inexplicable, which is one reason its alchemy continues to fascinate and capture headlines. In no other market do we lavish wealth on such useless and arbitrary things. Advanced systems of trade that are usually the facilitators of market intelligence—international public auctions and historical price indexes—only offer a false sense of comprehension while further distorting art’s valuation.

Yet if such things could be measured in degrees, the art market of today seems more unexplainable than ever. The prices paid for certain types of post-war and contemporary art continues to outpace prices for older work as well as recent art of greater nuance. Tens of millions of dollars may still chase after art of dubious formal qualities—factory-made work by Jeff Koons and Damien Hirst, smears by Francis Bacon and silkscreens by Warhol.

Big money’s relationship to “cheap” contemporary art is a recent phenomenon. It began in the 1960s, as Pop Art commercialized the avant-garde—not just selling the avant-garde, but also involving commercialism in defining the avant-garde. Whereas many Abstract Expressionists died before striking it rich, several of the avant-garde artists who came of age in the 1960s experienced a more profitable fate. (…)

In 2006, Tobias Meyer infamously remarked that “the best art is the most expensive because the market is so smart.” The quote received wide circulation because of its patent absurdity. A market is only as smart as the people who control it, and the art market has proved to be a dull creature when it comes to appreciating a broad range of artistic qualities. But to give Meyer credit, the market can be very smart about the art that speaks to it.

The art market has a unique talent for promoting art about the market. Since exhibition history enhances value, the collectors of what we might call “market art” have a vested interest in seeing their work take up space in traditional public collections. They often have the financial leverage to make it happen. In this way, the hedge-fund collector Steven A. Cohen could place Damien Hirst’s shark tank on temporary loan at the Metropolitan Museum. The oversized trinkets of Jeff Koons start appearing at the same time in the museum’s rooftop gallery.

{ The New Criterion | Continue reading }

{ Scan processor studies by Woody Vasulka & Brian O’Reilly, generated by Woody using a Rutt-Etra Scan Processor in the 1970’s | via Creative Applications }

related:

{ Joy Division’s debut album, Unknown Pleasures, 1979 | The front cover image comes from an edition of the Cambridge Encyclopedia of Astronomy, and was originally drawn with black lines on a white background. It presents successive pulses from the first pulsar discovered, PSR B1919+21. }

{ Trimming the bushes | via copyranter }

While we in the US spent our Thursday eating turkey and watching football, the rest of the world’s markets went into a downward spiral as Dubai announced it wanted its lenders to give the country a six-month moratorium on some $80-90 billion in debt. This has the potential to be the largest sovereign debt default since Argentina. (…)

Let’s look at some facts about Dubai. It is one of the Arab Emirates; but unlike its neighbor Abu Dhabi, oil is only about 6% of the economy. While the foundations of the country were built with oil, the country has diversified into finance, real estate, tourism, trading, and manufacturing. It is a small country, with a little under 1.5 million residents, but with less than 20% being natural citizens - the rest are expatriates. The gross domestic product is around US $50 billion.

Dubai has become a byword for thinking large. The world’s tallest building, underwater hotels, the largest manmade islands (plural), indoor snow skiing in the desert… For links to more information try this from Wikipedia: “The large-scale real estate development projects have led to the construction of some of the tallest skyscrapers and largest projects in the world, such as the Emirates Towers, the Burj Dubai, the Palm Islands and the world’s second tallest, and most expensive hotel, the Burj Al Arab.” The list goes on and on.

UBS suggests that the $80-90 billion in debt may not include rather large off-balance-sheet debt (where have we seen that one?). So, a country with a GDP of $50 billion borrows $100 billion. They build massive projects, which are now among the most expensive real estate in the world. The latest manmade island plans for one million people to buy property there. Seriously. Talk about Field of Dreams.

Then came the credit crunch. Property values dropped by as much as 50%. Sales, say the developers in understatements, have slowed. Seems there was a lot of debt used to speculate on real estate, not to mention buying Barney’s, Las Vegas casinos, banks, etc. And while US banks have little exposure, it seems England has about 50% or so of the debt, with the rest of Europe having the lion’s share of the remainder. Admittedly, the estimates seem to confuse the debt of Dubai with that of Abu Dhabi, so it is hard to know a reliable number, other than that European banks are the most exposed.

Now, here’s the deal. Abu Dhabi has the world’s largest sovereign wealth fund, at over $650 billion. Dubai has a “mere” $15 billion. If they cared to, Abu Dhabi could write a small check and make all the problems disappear. It just seems that they are not ready to do that, at least not yet. Abu Dhabi already got the world’s tallest building on past debt problems.

{ John Mauldin | Continue reading | PDF }

When Steve Jobs returned to Apple the company had just completed a fiscal year where they lost about $1 billion on $7 billion in revenue. The company was worth about $4 billion. Rivals like HP and Dell were worth about $62 billion and $8 billion, respectively.

Today Apple is worth a staggering $184 billion on revenues of $36.5 billion and net income of $8 billion. The company is now worth far more than HP and Dell combined. Hewlett Packard is worth just $119 billion, and Dell is worth $28 billion. You could throw another Dell in there and Apple would still be worth more.

{ TechCrunch | Continue reading }

photo { Doc Edgerton, .30 Bullet piercing an apple, 1964 }

You’re mugged by a man with a patch over one eye. You describe him and his distinctive appearance to the police. They locate a one-eyed suspect and present him to you in a video line-up with five innocent “foils”. If this suspect is the only person in the line-up with one eye, prior research shows you’re highly likely to pick him out even if, in all other respects, he actually bears little resemblance to your mugger. So the challenge is: How to make police line-ups fairer for suspects who have an unusual distinguishing feature?

Police in the USA and UK currently use two strategies - one is to conceal the suspect’s distinguishing feature (and tell the witness they’ve done so); the other is to use make-up, theatrical props or Photoshop to adorn the other members of the line-up with the same distinctive feature. Now Theodora Zarkadi and her colleagues have compared both approaches and found the fairer method is to replicate the unusual feature.

{ BPS | Continue reading }

{ Barbara Kruger at Sprüth Magers London, til Jan. 23, 2010 }

If there’s one thing that’s certain, it’s that humans, like other living things, will continue to evolve. “Evolution is unstoppable,” says Lawrence Moran of the University of Toronto in Canada. But that doesn’t mean that humans are marching on a path toward becoming giant-brained, telepathic creatures out of Star Trek. All it means is that the human genome will continue to change from generation to generation.

Each baby’s DNA carries about 130 new mutations. Most of them have no effect on our well-being. People can pass these neutral mutations down to their offspring without harm, and over time, a small fraction of them will end up spreading across entire populations, or even the entire species, thanks to random luck.

{ Carl Zimmer | Continue reading }

photo { Shooting the ‘Decade From Hell’ cover photo. }

related { If Darwin didn’t rock your world, this should. }

{ You fire a bullet, and it explodes where you tell it to. That’s the essence of the XM25, a gun that fires explosive rounds able to neutralize enemies camped out behind cover. Soldiers in urban environments can fire over or past walls sheltering their enemies, and the bullets will explode on the other side. | Time | more | Related: The evolution of the human capacity for killing at a distance | audio }

{ A Photography Blog | more }

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{ Flock of birds in Scotland | Metro.co.uk }

Aliens from outer space are already among us on earth, say Bulgarian government scientists who claim they are already in contact with extraterrestrial life.

Work on deciphering a complex set of symbols sent to them is underway, scientists from the country’s Space Research Institute said.

They claim aliens are currently answering 30 questions posed to them.

Lachezar Filipov, deputy director of the Space Research Institute of the Bulgarian Academy of Sciences, confirmed the research.

He said the centre’s researchers were analysing 150 crop circles from around the world, which they believe answer the questions.

“Aliens are currently all around us, and are watching us all the time,” Mr Filipov told Bulgarian media.

“They are not hostile towards us, rather, they want to help us but we have not grown enough in order to establish direct contact with them.”

“The human race was certainly going to have direct contact with the aliens in the next 10 to 15 years,” he said.

{ The Telegraph | Continue reading }

related { Proof of the existence of extraterrestrial life may be closer than we think, thanks to a surge of research in astrobiology. | Times Higher Education }

Alan Turing (1912 – 1954) was an English mathematician, logician, cryptanalyst, and computer scientist, who also wrote papers over a whole spectrum of subjects, from philosophy and psychology through to physics, chemistry and biology. He was influential in the development of computer science and providing a formalisation of the concept of the algorithm and computation with the Turing machine (1934-1936).

In 1999, Time Magazine named Turing as one of the 100 Most Important People of the 20th Century for his role in the creation of the modern computer, and stated: “The fact remains that everyone who taps at a keyboard, opening a spreadsheet or a word-processing program, is working on an incarnation of a Turing machine.”

During the Second World War, Turing was recruited to serve in the Government Code and Cypher School, located in a Victorian mansion called Bletchley Park. The task of all those so assembled — mathematicians, chess champions, Egyptologists, whoever might have something to contribute about the possible permutations of formal systems — was to break the Enigma codes used by the Nazis in communications between headquarters and troops.

Because of secrecy restrictions, Turing’s role in this enterprise was not acknowledged until long after his death. And like the invention of the computer, the work done by the Bletchley Park crew was very much a team effort. But it is now known that Turing played a crucial role in designing a primitive, computer-like machine that could decipher at high speed Nazi codes to U-boats in the North Atlantic.

In 1948, Turing, working with his former undergraduate colleague, D. G. Champernowne, began writing a chess program for a computer that did not yet exist. In 1952, lacking a computer powerful enough to execute the program, Turing played a game in which he simulated the computer, taking about half an hour per move. The game was recorded.

In 1950, his Turing test was a significant and characteristically provocative contribution to the debate regarding artificial intelligence.

After 1952, Turing became interested in chemistry and worked on mathematical biology. He wrote a paper on the chemical basis of morphogenesis, and predicted oscillating chemical reactions, which were first observed in the 1960s.

Turing’s homosexuality resulted in a criminal prosecution in 1952.

In January 1952 Turing picked up 19-year-old Arnold Murray outside a cinema in Manchester. After Murray helped an accomplice to break into his house, Turing reported the crime to the police. During the investigation, Turing acknowledged a sexual relationship with Murray. Homosexual acts were illegal in the United Kingdom at that time, and so both were charged with gross indecency under Section 11 of the Criminal Law Amendment Act 1885, the same crime that Oscar Wilde had been convicted of more than fifty years earlier.

Turing was given a choice between imprisonment or probation conditional on his agreement to undergo hormonal treatment designed to reduce libido. He accepted chemical castration via female hormone injections, one of the side effects of which was that he grew breasts.

On 8 June 1954, Turing’s cleaner found him dead; he had died the previous day. A post-mortem examination established that the cause of death was cyanide poisoning. When his body was discovered an apple lay half-eaten beside his bed, and although the apple was not tested for cyanide, it is speculated that this was the means by which a fatal dose was delivered. An inquest determined that he had committed suicide.

On 10 September 2009, following an Internet campaign, British Prime Minister Gordon Brown made an official public apology on behalf of the British government for the way in which Turing was treated after the war.

{ Wikipedia | Time }

While there is a tendency to think that only men treat women in a sexist way, a new study shows that both men and women participate in maintaining a gender hierarchy in our society. Sexism has been discussed in the professional literature for decades as an issue of social hierarchy.

However, only a few researchers have directly tested the role that social hierarchy plays in sexism on a day to day basis.

Some of the motivation for supporting the gender hierarchy is the widespread belief that social hierarchy is of general importance.

The study, which explores the role of men and women in maintaining the gender hierarchy in society, was conducted by a researcher from the University of Miami and his daughter. (…)

The two most significant findings are that both men and women respond in a more hostile way to a woman who violates sex-role expectations, than to one who adheres to them. Secondly, that the more an individual supports social hierarchy in general (that some people should have more power and resources than others), the more hostile they responded toward a woman who violated sex-role expectations.

{ TS-Si | Continue reading }

Whenever a new corporate or governmental scandal erupts, onlookers ask “Where were the lawyers?” Why would attorneys not have advised their clients of the risks posed by conduct that, from an outsider’s perspective, appears indefensible? When numerous red flags have gone unheeded, people often conclude that the lawyers’ failure to sound the alarm must be caused by greed, incompetence, or both.

A few scholars have suggested that unconscious cognitive bias may better explain such lapses in judgment, but they have not explained why particular situations are more likely than others to encourage such bias. This article seeks to fill that gap. Drawing on research from behavioral and social psychology, it suggests that lawyers’ apparent lapses in judgment may be caused by cognitive biases arising from partisan kinship between lawyer and client.

The article uses identity theory to distinguish particular situations in which attorney judgment is likely to be compromised, and it recommends strategies to enhance attorney independence and minimize judgment errors.

{ Cassandra Burke Robertson, Judgment, Identity, and Independence, 2009 | via The Situationist }

{ David AdeyPump, 2006 | Pump is comprised of a mechanical animal respirator with small breathing tubes attached to a football that has been completely re-surfaced by drywall screws, screwed into it like some overstuffed and oversized pin cushion. | Art As Authority | more }

{ David Adey, Anatomic Particulars, 2007 }

{ David Adey, The Post-Modern Prometheus, 2008 }

{ One of the great mysteries of our Solar System is why Uranus is tilted on its side. Collision-Free theory explains why. | Photo taken by the spacecraft Voyager 2 in 1986 }

Heavy police sawhorses of rough wood with a stenciled warning — “Police Line Do Not Cross” — have been a visible staple of New York’s landscape for decades. But now they are being demoted.

Police Commissioner Raymond W. Kelly said that wooden sawhorses were being phased out. The last ones owned by the New York Police Department, made by inmates in upstate prisons, are being relegated to dull duty at street fairs and other low-impact events.

The glory, the front-row seats to history, will go to the interlocking gray aluminum partitions that the police call “French barriers.”

It’s like a first-grade detective in Midtown Manhattan being busted to overnight patrolman on the outskirts of Staten Island.

From a few hundred French barriers bought in the early 1990s, there are now about 12,000 (seven feet long and $70 each). Just 3,200 veteran wooden sawhorses (14 feet long and $60 each) remain. Other cities like Chicago and Philadelphia also use both types.

{ NY Times | Continue reading }

related:

{ Top, fake badges for assistant chief and patrolman; bottom, real detective and patrolman badges. | In New York, some officers don’t wear their badges on patrol. Instead, they wear fakes. Called “dupes,” these phony badges are often just a trifle smaller than real ones but otherwise completely authentic. Officers use them because losing a real badge can mean paperwork and a heavy penalty, as much as 10 days’ pay. | NY Times | Continue reading }

{ Cthulhu Ski Mask }

{ Market Street Cinema, strip club in San Francisco | Andy Wright/SF Weekly }

What’s going to happen, economically and politically, over the next few years? Nobody knows, of course. But I have a vision — what I think is the most likely course of events. It’s fairly grim — but not in the approved way. (…)

Start with the short-term economics. What we’re in right now is the aftermath of a giant financial crisis, which typically leads to a prolonged period of economic weakness — and this time isn’t different. A bolder economic policy early this year might have led to a turnaround, but what we actually got were half-measures. As a result, unemployment is likely to stay near its current level for a year or more. (…)

All the wise heads will tell us that 8 or 9 percent unemployment — maybe even 10 percent — is the “new normal”, and that only irresponsible people want to do anything about the situation. So what I see is years of terrible job markets, combined with political paralysis.

{ Paul Krugman/NY Times | Continue reading }