The last time money left the art world, intrepid types maxed out their credit cards and opened galleries, and a few of them have become the best in the world.

While it may be a really trying, weird time for the art world, I see good work all the time. If you just go around to that many galleries, and if you stay open, you're going to see work with enough energy and surprise. I don't think I've ever gone to the galleries without coming home thinking, Gee, I now know something I didn't know this morning.

I just want to say one thing about the '70s. Enough with this purer, "It was a better time," business. Every time is about as polluted and needy and beautiful as most other times. I was around in the '70s, and people were just as ambitious and envious and filled with need and desire as they are today.

Abstraction brings the world into more complex, variable relations; it can extract beauty, alternative topographies, ugliness, and intense actualities from seeming nothingness.

All of Koons's best art - the encased vacuum cleaners, the stainless-steel Rabbit (the late-twentieth century's signature work of Simulationist sculpture), the amazing gleaming Balloon Dog, and the cast-iron re-creation of a Civil War mortar exhibited last month at the Armory - has simultaneously flaunted extreme realism, idealism, and fantasy.

Too many younger artists, critics, and curators are fetishizing the sixties, transforming the period into a deformed cult, a fantasy religion, a hip brand, and a crippling disease.

I see 30 to 40 gallery shows a week, and no matter what kind of mood I'm in, no matter how bad the art is, I almost always feel better afterward. I can learn as much from bad art as from good.