Art Inflation and What Drives It

Student’s Name
Instructor’s Name
Course Title
Date
Art Inflation
The article looks into the topic of art inflation and how art is becoming expensive by the day. From an economic perspective, inflation occurs due to an increase in the cost of production, for example, the increased cost of obtaining raw materials. Another major reason for inflation would be the supply-demand factor, whereby an increase in demand can cause inflation. However, art inflation defies the traditional economic model of inflation as the...