Archive for November 2010

Painting economics

Nov 30th, 2010 | By | Category: Ireland

Imagine you were the person who paid £68 million for a Picasso painting and then someone, unknown to art collectors, revealed that they had 271 works by the artist ; it would not only depress you that your purchase was not as exclusive as you had believed, it would also depress the value of your investment.  The laws of economics taught at secondary school are simple – a glut in supply without a corresponding increase in demand will cause a fall in prices.  Surely even the Irish Government would have …