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Few paragraphs from Seeing Dollar Signs Is the art market making us stupid? Or are we making it stupid? by Jerry Saltz in the Village Voice:

In the 1970s, conceptualist Joseph Kosuth said, "The only people who care about art are artists." That's changed. But is the art world of greater interest to people outside of it because art has become more interesting or because art is a hot property? Is the market creating a competitive atmosphere that drives artists to produce better work or is it mainly fostering empty product?

Consider the lame-brained claim made by Sotheby's worldwide head of contemporary art, Tobias Meyer, who recently effused "The best art is the most expensive because the market is so smart."

The market is now so pervasive that it is simply a condition—as much a part of the art world as galleries and museums. Even if you're not making money—as is the case with most of us—that's your relationship to the market. To say you won't participate in the market is like saying you refuse to breathe the air because it's polluted.