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For What It's Worth

Michael Rushton on pricing the arts

On the ingratitude of artists receiving a guaranteed income from a benefactor

December 11, 2024 by Michael Rushton Leave a Comment

(“Vanessa Bell in a Deckchair” by Roger Fry)

From Robert Skidelsky, John Maynard Keynes 1883-1946, Economist, Philosopher, Statesman:

The autumn of 1925 found Keynes, as usual, complaining of overwork (‘too much to do, no leisure, no peace, too much to think about…’). A substantial commitment was organising the London Artists’ Association, in homage to both art and friendship. The idea was to give the leading Bloomsbury painters and their protégés – a group headed by Duncan Grant, Vanessa Bell and Roger Fry – a guaranteed income, so they could paint without worrying about money. Perhaps Keynes saw it as a way of compensating Duncan for the loss of his inheritance. He persuaded Sam Courtauld and two other businessmen to join him in guaranteeing the members an income of £150 a year. The Association held their first London show, at the Leicester Galleries, in April 1926. It was hailed by their relentless publicist Clive Bell as ‘an event of capital importance … no less than the reassertion of an English school’. By 1929, 7000 works of art, worth £22,000, had been sold.

From the start tensions dogged the Association’s life, which reflected those between Tilton [Keynes’s house] and Charleston [country home of the Bloomsbury’s]. Keynes wanted to bring in non-Bloomsbury painters like Matthew Smith and Paul Nash, partly to strengthen the financial basis; Duncan, Vanessa and Roger Fry objected to his interference. Keynes was right, for many reasons, not least because he foresaw that Duncan and Vanessa would get tired of subsidising the non-earners. But it was a fixed idea at Charleston that Keynes had no artistic judgement: his role should be to pay up and leave artistic policy to them. ‘If one wants to do something’ Vanessa wrote to Roger Fry, ‘[the only way] is not to listen to a word he says, to let him talk, keeping one’s attention firmly fixed to one’s own ideas, & the repeat them regardless of what he’s said.’

cross-posted at Substack: https://michaelrushton.substack.com/

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Michael Rushton

Michael Rushton taught in the Arts Administration programs at Indiana University, and lives in Bloomington. An economist by training, he has published widely on such topics as public funding of the … MORE

About For What It’s Worth

What’s the price? Everything has one; admission, subscriptions, memberships, special exhibitions, box seats, refreshments, souvenirs, and on and on – a full menu. What the price is matters. Generally, nonprofit arts organizations in the US receive about half of their revenue as “earned income,” and … [Read More...]

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