Masterpieces and Markets: Why the Most Famous Modern Paintings Are Not by American Artists

Working Paper: NBER ID: w8549

Authors: David W. Galenson

Abstract: A survey of the illustrations in art history textbooks reveals that the most important modern American painters, including Pollock, Johns, and Warhol, failed to produce individual paintings as famous as the masterpieces of a number of major French artists, such as Picasso, Manet, and Seurat. Analysis of the textbooks reveals that art historians do not consider the American artists to be less important than their French predecessors, or judge the Americans' innovations to be less important. The absence of American masterpieces instead appears to be a consequence of market conditions, as changes over time in the primary methods of showing and selling fine art reduced the incentive for artists to produce important individual works.

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JEL Codes: No JEL codes provided


Causal Claims Network Graph

Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.


Causal Claims

CauseEffect
Market conditions (D49)Production of famous individual paintings by artists (Z11)
Market conditions (D49)Prominence of individual artworks (Z11)
French artists (Z11)Production of famous paintings (Z11)
American artists (Z11)Production of famous paintings (Z11)
Frequency of illustrations in art history textbooks (Y90)Importance of paintings (Z11)

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