The winner-take-all economy is ruining art, too

I was on the whole disappointed by this year's Whitney Biennial -- it was hard for me to tell if one video installation was art or an HR training video -- but as an economist, I have to admit the exhibition was successful in at least one respect: It did what art is supposed to do, which is to hold up a mirror to our society and economy. And this year's biennial shows how America's elite...