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Different cultures have different visions of the meaning and value of art. Provide the author's definition of "art," and use this as a starting point for explaining why Western art became the standard for galleries and museums. Distinguish between Western and so-called primitive art, and explain the role anthropologists played in raising awareness of the latter. Highlight both the positive contributions attributed to and criticisms of anthropologists relative to notions of "ethnocentrism" and the "universal gaze." Provide two examples to discuss how and why "primitive" or "ethnic" art has become a collector's item.
Inflation Level
The pace at which the average price level of goods and services ascends, diminishing the value of money.
Base Year
A specific year against which economic or financial data is measured and compared.
Chain-Weighted Index
An economic measure that accounts for changes in both prices and quantities of goods and services over time, adjusting the weightings to better reflect reality.
Laspeyres Index
A price index used to measure the change in the cost of acquiring a fixed basket of goods and services of the same type and quantity over time.
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