4 ms·
Making Something From Nothing
- pg 18y agoArt is a good example of pure wealth creation, but in his examples the numbers are misleading. At the high end, art prices are driven mainly by brand and scarcity. There is only room in people's minds for a limited number of famous artists; rich boneheads want to buy the work of whoever's famous; more rich boneheads than famous artists; pipe through law of supply and demand; result: prices are outliers.