LONG LIVE THE CRISIS: FROM AN ELECTRONIC-MAIL MESSAGE TO HARIS EPAMINONDA (December 23, 2008)
As you say, the economic crisis hitting the art world seems to be rather a good thing. Now things will slow down, and the view will clear a little from all the hype accumulated in recent times. This reminds me of London in the early 1990s, when the previous economic crisis hit the city quite hard. Many artists I was close to back then felt like you feel right now. Although the hype was much less nearly two decades ago than it became in the recent years, it was starting to build up already. It was clear where it was headed, too. Tate Modern was in the air long before it opened with fanfare. Sadly, the previous crisis did not last very long. After only a few years, everything returned back to “normal.” This is how it is likely to be once again, but at least the present crisis will in all probability be much longer. Much, much longer. At any rate, enjoy it while it lasts, for the hype is always just behind the corner. Long live the crisis!