Speculation is clearly the buzzword of the moment; in philosophy, art, the art market, literature, and finance. But what does it mean, exactly, to speculate?
Speculation grasps for the nonexistent. As a financial operation, speculation aims to make the future controllable, calculating possible price developments on the basis of empirical data. One of the elementary pacemakers of present-day capitalism, it also plays a pivotal role in generating value in the field of contemporary art. It transforms the character of collections, collectors now aiming at a subsequent resale with profit maximization.
In contrast, theoretical speculation, e.g. in the form of Speculative Realism, is directed toward the fundamentally uncertain. This philosophical movement, which is increasingly present in contemporary art discourse, frequently positions speculation against the programs of critique and aesthetics. The question is whether this leads to an unreflecting leap toward the ‘things themselves’ which in turn requires a critical examination; but also, wherein the opportunities of speculative models lie: Speculation bears the promise of not merely critically addressing what is given, but of catching up with the hypothetical, thinking the potential. In this sense, speculation is a driving force for any creative mode.
In this issue, we ask for theoretical, artistic, and curatorial assessments of the current boom of speculative models. We look at Speculative Realism, the work of its first protagonists and its recent developments, as well as the widely popular curatorial recourses to speculative philosophy, as seen in the exhibition “Speculations on Anonymous Materials” at Fridericianum, Kassel. Our authors discuss the generation of value in the art system; art’s function in investment portfolios; and the early case of the art speculators “La Peau de l’Ours” in early 20th century Paris. We also examine the temporal contracts that are implemented by speculative operations. And, with Rainald Goetz and Alexander Kluge, we publish two authors who explore the proximity of speculation and (literary) writing.
