Broke

I mentioned recently William Cohan's piece on regulation and the art market. Felix Salmon thinks the idea of regulating the art market -- through for example the new Consumer Financial Protection Bureau -- is "a dreadful idea." He thinks "the art market is broken," and better not to do anything to disguise that fact. The Art Market Monitor doesn't buy the case for broken-ness: "Works of art are being distributed and re-distributed throughout the world using the fairly efficient method of market pricing."