Following the collapse of the Soviet Union, a “global” art world began to form. Sure, there were already a number of world’s fairs and established international biennials, but this would be different. From the 1990s onward, national boundaries would dissolve, centers and peripheries would level out, and the internet would host worldwide cultural exchange. In many ways this really did happen, but some other things also happened. As people and ideas began to move across borders, money did too. Faced with an unmanageable planetary scale, capital became a more efficient regulator of flows than laws or nations. Suddenly, capital rose ...