The notion is that industrialisation turns traditional societies into secular-rational ones, while post-industrial development brings about a shift towards values of self-expression.
These points rang home during the opening keynote by John Gerzema, author of the book Spend Shift: How the Post-Crisis Values Revolution is Changing the Way We Buy, Sell and Live.
But price levels for these contemporary artists tend to shift unpredictably, which also attracts speculators seeking to profit from changing art values.