1) I feel like the upper echelons of the art world have not changed much since The Painted Word's original publishing. However, I would argue that new avenues for fame have become unveiled thanks to the internet. The artist doesn't need a gallery to back artworks and give them gallery space to be seen. You just have to get enough pins, likes, follows, faves, to make your art recognizable to the public. Yes, this is small pickings in comparison to what's happening in Sotheby's, but no less important to an artist trying to make a living.
Also, the pervasiveness of performance art and digital media art in the last few decades also changes the big gallery game. If your work is only accessible online then it becomes perhaps not a sold work, but a work often referenced in the progression of art history. Yea I guess you don't make any money, but I still think that's pretty cool (ie. My Boy Friend Came Back from the War). Many works are also not displayed in galleries (ie. graffiti, instillation art, public performance art). The spread of these works is due to photos on social media sites. So I'd say there are two perfectly valid worlds for artists to work in now rather than just one.
2) This is a complicated question. In terms of art? I'd like to make work that I like. Honestly, I'm not even that psyched to hang anything in a gallery. The fun part is making it. In terms of like, overall life goals, I really want to be first author on a research paper. A good research paper.
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