Why a downturn could be healthy for the art market
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 24 September 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
The art market is in somewhat of a funk right now. Auction houses are reporting that demand for new pieces of art has dipped recently, partly due to external conditions like higher interest rates. While the downturn upends years of strong sales, art critic Blake Gopnik argues that a correction may ultimately benefit the long-run fortunes of artists. And, a look inside the Justice Department’s reported case against Visa over monopoly claims in the debit card market.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hi I'm Kai Rizdahl the host of How We Survive |
| 0:03.4 | It's a podcast from Marketplace. In 1986, before I was a journalist, I was flying for the Navy. |
| 0:09.6 | Mr. Gorbachev, tear down this wall. |
| 0:14.4 | It was the cold war and my first deployments were intercepting Russian bombers. |
| 0:18.6 | Today though, there's another threat out there, climate change. |
| 0:22.6 | This could be the warmest year on record. |
| 0:24.6 | Climate change is here. |
| 0:25.7 | Temperatures here are warming faster than anywhere on Earth. |
| 0:29.5 | And while the threat seems new, the Pentagon's been funding studies on climate change since the 1950s. |
| 0:35.9 | I think we will put our troops and our forces at higher risk if we don't recognize the impact of climate change. |
| 0:44.7 | This season, we go to the front lines of the climate crisis |
| 0:47.5 | to see how the military is preparing for the threat. |
| 0:51.0 | Listen to how we survive, wherever you get your podcasts. |
| 0:53.7 | We'll hear an argument that it's good that an art market bubble has popped. |
| 1:01.3 | I'm David Brancaccio in Los Angeles. First, there are multiple |
| 1:05.2 | published reports this morning that the Justice Department is getting ready to |
| 1:08.6 | sue Visa as earliest today. The lawsuit could be filed by the DOJ's antitrust division. |
| 1:14.4 | Marketplace is Nancy Marshall Genser joins us now. |
| 1:17.2 | Nancy, what is the Justice Department expected to accuse Visa of doing? |
| 1:23.0 | Well, David, the lawsuit apparently accuses Visa of monopolizing the debit card market. |
| 1:29.8 | And this was first reported by Bloomberg, which says Visa entered into exclusive agreements |
| 1:35.0 | to prevent its competitors from expanding and to keep new FinTech companies out of the market. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Marketplace, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Marketplace and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.