In a recent discussion during the 2015 World Economic Forum in Davos, noted economist and NYU Professor Nouriel Roubini has called for more rigid regulation of the art market. Roubini is known for predicting the explosion of the US subprime housing market, and noted the art world’s frequent anonymity among buyers as one contributor to the ongoing use of the market to launder money. “While art looks as if it is all about beauty, as a business it is full of shady stuff,” he said. “We should correct it or it will be undermined over time.”
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