The art of the free market
News that Steuben Glass will close its only factory – in Corning, NY – at the end of November offers another reminder that the free market is Darwinian Theory played on the economic stage. That’s a good thing if you think markets act rationally; not so good if you like fine art and rare craftsmanship. Which explains why I’m conflicted about the news.
Here are two interesting passages from an AP news story covering Steuben Glass’ plight:
“They totally lost their way,” sniffed Jeff Purtell, a Steuben dealer in Portsmouth, New Hampshire. “If your design department is pathetic, your costs are prohibitive, and your marketing — and vision for the future — is not successful, then you’re doomed whether you’re making Steuben glass or Twinkies.”
And:
“If you took away the understanding that it might never make money and sold it to somebody for whom it had to make money, that was the beginning of the end,” said Mary Jean Madigan, author of “Steuben Glass: An American Tradition in Crystal.”
The first passage is a classic analysis of a business failing to meet the demands of the marketplace. The second passage suggests that the venture was never equipped to be a participant in the free market in the first place.
I suspect both passages are accurate to some degree. But what’s most likely the case is that the style of the day no longer has as much shelf space for Steuben’s works of art, as summed up rather nicely here:
“I often wondered why the last generation, maybe two, cut down on Steuben,” mused collector Thomas Dimitroff. “The young folks don’t want it. Same thing with silver. There’s a different attitude. Every year we’re getting further away from the Victorian love of clutter, quality or not.”
Few benefactors will indefinitely sink money into an artistic venture against the headwinds of changing tastes. And that’s the hardest thing for any artist to appreciate; they, too, participate in the free market of trends, styles and tastes. One day you’re making art, the next day it becomes clutter.
Some of the artists in the colony may make a good buck for a while, but sooner or later they too will have to adapt just like any free-market type to keep the gravy train rolling. Unless they prefer starving for their art, which, of course, they are free to do as well.
