Art and Value: Art’s Economic Exceptionalism in Classical, Neoclassical and Marxist Economics

Art and Value is the first comprehensive analysis of art's political economy to be found in classical, neoclassical and Marxist economics. It provides a critical-historical survey of the theories of art's economic exceptionalism, of art as a merit good, and of the theories of art's commodification, the culture industry and real subsumption. Through an exacting critique of mainstream and Marxist theories of art's economics, the book arrives at a new and highly original Marxist theory of art's economic exceptionalism.

Book Reviews:

Has art been commodified? Has artistic production been subsumed under capital? These and similar notions have become commonplace in both mainstream and Marxist discourse, but Dave Beech argues for art’s exceptionalism. Eschewing facile totalizations, he makes some much-needed theoretical distinctions rooted in Marx’s work, and highlights anomalies and details. He is definitely asking the right questions.
– Andrew Kliman is an economist and Professor in economics at Pace University, New York.

We're all looking for an opening. Dave Beech has put his hand on a key hidden for decades under a mountain of gloom. The result is Art and Value. I've never read anything like it. It is a precisely argued critique of the pessimistic Marxist orthodoxy about the fatal dissolution of art into the commodity form, carried out in terms closely derived from Marx's own writings and brought forward through history from the origins of modern economics to the present moment. In meticulous detail, Beech demonstrates how works of art are 'economically exceptional': that they are not in fact produced as commodities but only come into relation with the commodity form in ways that are not eternal, necessary, and incurable, but social, changeable, and even insignificant. It opens an authentically new dimension in this long debate and, in doing so, shows us a model of artistic, and by extension, social and political freedom that can inspire hope, confidence, and daring. This is a book of, and for, high spirits.
– Jeff Wall is an artist known for pioneering post-conceptual photography and critical writing on art history.