The Boom Is Over. Long Live the Art! - NYTimes.com

The diminishment has not, God knows, been quantitative. Never has there been so much product. Never has the American art world functioned so efficiently as a full-service marketing industry on the corporate model.

Every year art schools across the country spit out thousands of groomed-for-success graduates, whose job it is to supply galleries and auction houses with desirable retail. They are backed up by cadres of public relations specialists — otherwise known as critics, curators, editors, publishers and career theorists — who provide timely updates on what desirable means.

The Boom Is Over. Long Live the Art! - NYTimes.com