Why Artists Don't Make Money - The Business of Life

This episode of 'The Business of Life' looks at two creative industries going in seemingly opposite trajectories: the fine art world, where the sky is seemingly the limit for the prices collectors are willing to pay; and the music industry, where the free-fall of record company profits has only recently begun to slow.

But at the root of each sector’s rising or declining fortunes is the underlying question: How should we compensate artists? And what value do cultural products create in a society? To get to the bottom of the issue, we’ve tapped the former New Yorker pop critic Sasha Frere-Jones, award-winning artist Ryder Ripps, and Glenn O’Brien, the founder of TV Party, original editor of Interview Magazine, and a former member of Andy Warhol’s Factory.