Andrew Taylor on the Business of Arts & Culture
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Instead of asking for money, let's just make our own
Posted: January 11, 2006
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A fascinating initiative out of Denmark is working to forge a new international currency out of art (not a metaphorical currency, but an actual tradable commodity). Art Money can be used to buy goods and services (admittedly, not in very many places), and each unit of the money has a defined cash value. According to the web site:
Art money is an original art object measuring 12x18 cm, issued by an artist registered in BIAM [the Bank of International Art Money], showing serial number, year of production, artist name and original signature. Each bill represents a purchasing power equal to 20 Euro, increasing in value to 50 Euro over seven years.
The project is a more ambitious and structured version of something many artists have done in the past -- like J.S.G. Boggs, who got into some trouble with the U.S. Mint for his creations, or Alec Thibodeau's Noney which intentionally has a face value of zero, since the actual value is negotiated at the point of sale. It's a wonderful reminder that currency is among our most persistent and invisible cultural objects -- valuable only because both sides in a transaction believe it to be.
If nonprofit arts organizations embraced this idea, perhaps someday banks and affluent individuals would be coming to us for cash.