Canvas and Capital

Is art a safe investment in times of war? In this episode, Kim Oosterlinck (General Director of the Royal Museums of Fine Arts of Belgium) and Carmen Hofmann ( eabh ) dive into the little-known yet fascinating world of the German art market during World War II. This new research reveals that Germany itself as much as the occupied territories experienced a surprising wartime art boom. Using fresh data, the study uncovers how artworks became a discreet yet powerful investment amid economic uncertainty and Nazi regulation. From black market dynamics to the fate of so-called “degenerate art,” we unpack how paintings turned into both cultural and financial assets. Tune in for a compelling look at how war reshaped the value of art—and what it tells us about crisis economies.

You can listen to Canvas and Capital online on Radio and Podcast. Open the player on this page to stream the available audio.

Canvas and Capital is an episode from Finance & History by Carmen Hofmann.

This episode is 00:23:06 long.

This episode was published on Apr 16, 2025.

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