mo4ch:>Don’t laugh at Koons’ Rabbit selling for $91 million – get angry at economic system that enables it | Mo4ch News

Nothing illustrates unequal gains from globalized capitalism like the soaring prices in the art world, where those who have already bought all the mansions, private jets and super yachts park their wealth in meaningless baubles.When you saw that New York artist Jeff Koons’ faceless chrome Rabbit from 1986 fetched $91 million at an auction this week, making him the world’s most expensive living artist, what was your reaction?Was it: “This is just a piece of kitschy junk by a self-promoting moron who went out of fashion with 1980s shoulder pads. It’s not worth the money. All these people are ridiculous and stupid.”Well, the buyer, Robert Mnuchin, professional art collector and father of the US Treasury Secretary, is not stupid. And neither was its last owner, late Conde Nast publisher S.I. Newhouse Jr.At worst Mnuchin is a high-stakes gambler, at best he is a savvy investor turning his spare cash into an asset that is almost guaranteed to appreciate.The global art market in 1991 was wor…