{"id":1447,"date":"2014-08-10T16:13:16","date_gmt":"2014-08-10T23:13:16","guid":{"rendered":"http:\/\/www.artsjournal.com\/worth\/?p=1447"},"modified":"2014-08-10T16:13:16","modified_gmt":"2014-08-10T23:13:16","slug":"know-when-to-fold-em","status":"publish","type":"post","link":"https:\/\/www.artsjournal.com\/worth\/2014\/08\/know-when-to-fold-em\/","title":{"rendered":"Know when to fold ’em"},"content":{"rendered":"

\"move<\/a>There lies a contradiction within us. As teachers, mentors, coaches, friends, parents, we encourage people to pursue their dreams, to strive, persevere, don’t give up. We reward and praise determination, the kid who ‘sticks with it.’ And we should – these are excellent qualities in a person, very worth fostering. But at the same time we know that there are circumstances when, in fact, the time to ‘stick with it’ is past, when the costs of continuing to strive for success, in a career path, an artistic pursuit, a relationship, vastly outweigh the potential benefits. But so conditioned are we to think of quitting as a sign of weak character, that we can stay with projects long after they should have been put on the shelf. Even we economists often have trouble grasping that our sunk costs are indeed sunk, that it is time to move on.<\/p>\n

In today’s New York Times<\/em> we hear from Bren Smith<\/a>, a ‘shellfish and seaweed farmer on Long Island Sound.’ He is a former college student (as evidenced by his student debt), and is struggling to make a go of it in his farming business:<\/p>\n

To make ends meet as a farmer over the last decade, I\u2019ve hustled wooden crafts to tourists on the streets of New York, driven lumber trucks, and worked part time for any nonprofit that could stomach the stink of mud on my boots. Laden with college debt and only intermittently able to afford health care, my partner and I have acquired a favorite pastime in our house: dreaming about having kids. It\u2019s cheaper than the real thing.<\/p><\/blockquote>\n

His solution is that the government, and his fellow farmers, ought to do something, in fact a lot of things:<\/p>\n

It\u2019s not the food movement\u2019s fault that we\u2019ve been left behind. It has turned food into one of the defining issues of our generation. But now it\u2019s time for farmers to shape our own agenda. We need to fight for loan forgiveness for college grads who pursue agriculture; programs to turn farmers from tenants into landowners; guaranteed affordable health care; and shifting subsidies from factory farms to family farms. We need to take the lead in shaping a new food economy by building our own production hubs and distribution systems.<\/p><\/blockquote>\n

He also lauds the farmers’ groups of the past who fought for ‘stabilization of crop prices’, i.e. higher food prices for the consumer. But there is another solution, one he does not want to consider, but that is held in the headline of the article (a headline he did not necessarily write, but that is the truest thing here): get out of this business. It is not a market or policy failure that it is hard to make a living as a seaweed farmer. That’s a function of how much seaweed consumers want to buy, and how much is being supplied. The returns to this enterprise are simply not there. And it is very, very hard to make the moral case that consumers ought to pay more for food, and that someone else ought to cover his student loans, so that Mr Smith can pursue his dream of being a farmer.<\/p>\n

He is in the Times<\/em> in the first place because there will be so much sympathy; the little guy against a big, impersonal economy. But he doesn’t need to be there, he has choices.<\/p>\n

And this is where this becomes an arts story. Because it has always been that there are more young, and even not-so-young, people who dream and strive to make a living as musicians, painters, writers. And they are all encouraged to pursue their dreams. But we know that they all can’t succeed – that what people are willing to pay for records, paintings and essays is not enough to allow everyone who wants to to make a career – or even a ‘living wage’ – out of this. That’s not a function of the internet, or Amazon.com, or music streaming. It has always been so.<\/p>\n

I have great empathy for those who so deeply want to succeed as an artist, who want to keep that dream alive. The plea from the editors of N+1<\/a> for publishers to treat their writers with decency is quite right. But not everyone who wants to be a writer is going to make it. And that’s not a problem for arts policy to solve, for there isn’t a policy solution to it. The living wage at being a musician or writer can’t be guaranteed, can’t be made to happen. It never could.<\/p>\n

The good news is that there are other choices. The unemployment rate for college graduates remains very low, the long-run returns to a degree are high. There are a lot, too many, people in this country who are born into situations where the opportunities and choices are meagre. But that is not the case for people with education and a talent for writing and for art. They might not be in the jobs that were dreamt of as undergraduates. But there are many opportunities to make a difference in this world, to do people good.<\/p>\n","protected":false},"excerpt":{"rendered":"

There lies a contradiction within us. As teachers, mentors, coaches, friends, parents, we encourage people to pursue their dreams, to strive, persevere, don’t give up. We reward and praise determination, the kid who ‘sticks with it.’ And we should – these are excellent qualities in a person, very worth fostering. But at the same time […]<\/p>\n","protected":false},"author":3,"featured_media":1454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[26],"tags":[],"class_list":{"0":"post-1447","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-issues","8":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/08\/uhaul.jpeg","jetpack_shortlink":"https:\/\/wp.me\/p3dIW5-nl","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1007,"url":"https:\/\/www.artsjournal.com\/worth\/2014\/01\/the-sunk-cost-fallacy\/","url_meta":{"origin":1447,"position":0},"title":"The sunk cost fallacy","author":"Michael Rushton","date":"January 26, 2014","format":false,"excerpt":"It is great to be back at Artsjournal, after a fall semester of teaching a couple of courses, taking an introductory course in Mandarin, finishing up some academic papers and, most relevant to this space, completing a manuscript of a book on strategic pricing in the arts. I'll give updates\u2026","rel":"","context":"In "issues"","block_context":{"text":"issues","link":"https:\/\/www.artsjournal.com\/worth\/category\/issues\/"},"img":{"alt_text":"rid your mind of sunk costs","src":"https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/01\/Meditation.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/01\/Meditation.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/01\/Meditation.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/01\/Meditation.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/01\/Meditation.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/01\/Meditation.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":1100,"url":"https:\/\/www.artsjournal.com\/worth\/2014\/03\/the-sunk-cost-fallacy-2\/","url_meta":{"origin":1447,"position":1},"title":"the sunk cost fallacy","author":"Michael Rushton","date":"March 7, 2014","format":false,"excerpt":"You've got to know when to fold 'em. Yesterday at Indiana University we hosted Peter Frumkin, who talked about his new book (co-authored with Ana Kolendo) Building for the Arts: The Strategic Design of Cultural Facilities. The book contains a range of case studies of significant building or renovation of\u2026","rel":"","context":"In "issues"","block_context":{"text":"issues","link":"https:\/\/www.artsjournal.com\/worth\/category\/issues\/"},"img":{"alt_text":"sunk","src":"https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/03\/sunk-titanic.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/03\/sunk-titanic.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/03\/sunk-titanic.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/03\/sunk-titanic.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/03\/sunk-titanic.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":2824,"url":"https:\/\/www.artsjournal.com\/worth\/2023\/02\/what-does-chatgpt-know\/","url_meta":{"origin":1447,"position":2},"title":"What does ChatGPT know?","author":"Michael Rushton","date":"February 10, 2023","format":false,"excerpt":"In my last post I expressed skepticism that movie cinemas in the US could \"scale the house\" with much success (people were quick to tell me \"But in Europe, but in New York\", which is fair, but I'm talking the multiplex in Bloomington here). I mentioned in passing that cinemas\u2026","rel":"","context":"In "issues"","block_context":{"text":"issues","link":"https:\/\/www.artsjournal.com\/worth\/category\/issues\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2023\/02\/NorthridgeFashionCtr-GhostWorld-2.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2023\/02\/NorthridgeFashionCtr-GhostWorld-2.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2023\/02\/NorthridgeFashionCtr-GhostWorld-2.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2023\/02\/NorthridgeFashionCtr-GhostWorld-2.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2023\/02\/NorthridgeFashionCtr-GhostWorld-2.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2023\/02\/NorthridgeFashionCtr-GhostWorld-2.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":2546,"url":"https:\/\/www.artsjournal.com\/worth\/2020\/05\/its-friday-ask-me-anything\/","url_meta":{"origin":1447,"position":3},"title":"It’s Friday, Ask Me Anything","author":"Michael Rushton","date":"May 8, 2020","format":false,"excerpt":"The amazing students in our Arts Administration program at the O'Neill School at Indiana University have requested an ask-me-anything day, and so here it is. Through the day you can continue to ask questions either in the comments section here, or on Twitter, and I'll do my best. 2:30 pm\u2026","rel":"","context":"In "issues"","block_context":{"text":"issues","link":"https:\/\/www.artsjournal.com\/worth\/category\/issues\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2020\/05\/guitars-rotated.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2020\/05\/guitars-rotated.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2020\/05\/guitars-rotated.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":1744,"url":"https:\/\/www.artsjournal.com\/worth\/2014\/12\/pay-what-you-will-performances-a-caveat\/","url_meta":{"origin":1447,"position":4},"title":"Pay-what-you-will performances – a caveat","author":"Michael Rushton","date":"December 11, 2014","format":false,"excerpt":"The Guardian reports on various theatres in England experimenting with pay-what-you-decide pricing - essentially passing the hat at the end of the show - as a means of attracting new audiences and 'breaking down barriers.' ... the initiative is less about simply removing the financial barrier than removing the financial\u2026","rel":"","context":"In "issues"","block_context":{"text":"issues","link":"https:\/\/www.artsjournal.com\/worth\/category\/issues\/"},"img":{"alt_text":"time","src":"https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/12\/The_Persistence_of_Memory.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":1773,"url":"https:\/\/www.artsjournal.com\/worth\/2014\/12\/explainer-how-do-costs-affect-ticket-prices\/","url_meta":{"origin":1447,"position":5},"title":"Explainer: How do costs affect ticket prices?","author":"Michael Rushton","date":"December 29, 2014","format":false,"excerpt":"Suppose the costs of putting on a show fall - this could be from falling rental rates for performance spaces, technological changes that reduce costs of lighting or sound, or falling labor costs (perhaps through policy changes that lower the cost of providing health insurance to employees). How will this\u2026","rel":"","context":"In "issues"","block_context":{"text":"issues","link":"https:\/\/www.artsjournal.com\/worth\/category\/issues\/"},"img":{"alt_text":"When are those darn prices going to come down?","src":"https:\/\/i0.wp.com\/www.artsjournal.com\/worth\/wp-content\/uploads\/2014\/12\/airplane-2.jpeg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.artsjournal.com\/worth\/wp-json\/wp\/v2\/posts\/1447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.artsjournal.com\/worth\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.artsjournal.com\/worth\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.artsjournal.com\/worth\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.artsjournal.com\/worth\/wp-json\/wp\/v2\/comments?post=1447"}],"version-history":[{"count":0,"href":"https:\/\/www.artsjournal.com\/worth\/wp-json\/wp\/v2\/posts\/1447\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.artsjournal.com\/worth\/wp-json\/wp\/v2\/media\/1454"}],"wp:attachment":[{"href":"https:\/\/www.artsjournal.com\/worth\/wp-json\/wp\/v2\/media?parent=1447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.artsjournal.com\/worth\/wp-json\/wp\/v2\/categories?post=1447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.artsjournal.com\/worth\/wp-json\/wp\/v2\/tags?post=1447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}