Hossein Hashempoor: Economics of Art is Superior to Oil Economics

Oil and the Middle East are not equivalent. The Middle East's greatest resource is its outstanding human potential, which has been kept secret in the oil market for a long time.

Iranart: Hossein Hashempoor: Although we value oil and give thanks to God for this region's uncommon blessing, the Middle East is not entirely made up of it. The Middle East's greatest resource is its outstanding human potential, which has been kept secret in the oil market for a long time.

In any case, the Middle East has now awoken, and it is legitimate to believe it wants to use the power of oil to transform and reposition the region.

In accordance with my earlier articles, I think that, at this particular time, concentrating on the art and artists of the Middle East, who have been prioritized by regional decision-makers in the past ten years, is the proper strategic policy.

Due to the depletion of oil supplies, it appears that the oil industry is in decline. It is highly politicized and a polluter of the environment.

But in addition to the specific cultural added value which is inherent in longevity, the art of economics is overflowing with color, joy, and numerous of profitability, as seen over the past century or so in Hollywood, the Venice Biennale of Architecture, Cannes, and Basel.

Investing in art is vital and human-centered because it is like a generating fountain. The art of economics, according to global teachings, is knowledge-based and will eventually bolster other economies in a variety of ways. Without a doubt, K-pop and South Korean advancements have set the bar for the past ten years.

The great international banks' decision to shift their policy and use works of art as bank backings rather than gold illustrates the strategic depth of the art market, whose graph is always rising. The price swings of works by Picasso, Van Gogh, Gauguin, Da Vinci, and Monet, as well as more recent artists like Andy Warhol, Gerhard Richter, and Damien Hirst, are sufficient indicators of market trends.

Developing the economy and the art market is also one of the best ways to draw tourists, a strategy that Cannes and Venice have been using for years!

Yes, I still think that football and art are the key to modernizing the Middle East (3/7/2023). In this regard, every artist is an oil well for the Middle East (23/7/2023).

The moulding of this historical process is being watched by the entire world.