ABSTRACT
This chapter aims to analyze the political economy of artists who occupy a high position in the contemporary art canon in the 21st century, with particular attention to the effect of the global condition through the case study of the Japanese artist Takashi Murakami. My argument is that whereas the second half of the 20th century marked the increasing commodification of works of art, the 21st century commodifies the art exhibition as a whole and ultimately the artist in the canon. Using the example of Murakami, I will demonstrate how the contingencies between his works and the market are extended to the geopolitical conditions: Murakami’s canonization not only leans on economic forces outside the museum but is also harnessed by governments and private institutions for the promotion of their political and economic interests. A main issue that will rise from my discussion will involve the new role of museums in the contemporary situation as instruments in the process of commodification of high-profile exhibitions.
