"Evolutionary biologists argue these conspicuous purchases do the same job as peacock tails — signaling to peahens that they are fit enough to expend an inordinate amount of energy on producing colorful feathers. The French sociologist Pierre Bourdieu argued that aesthetic choices are social markers with which the powerful signal their power and set themselves apart from other, inferior groups. Anybody can buy stocks. Hedge fund managers can buy pickled sharks by Damien Hirst.
That’s why the record set by Giacometti’s “Walking Man I” is so significant. Not only does it signal that the plutocracy believes it successfully eluded financial Armageddon. At a stroke, the sale made clear that the rich are back in their rightful place at the apex of the world."
That thin man is looking more like a fat cat every day....
