TABLE OF CONTENTS

RATE OF RETURN: THE ARTIST PLACEMENT GROUP

View of “Inno₇0,” 1971, The Hayward, London. © APG/Tate Archive.

IN ITS FORTY-YEAR HISTORY, London’s Hayward gallery, like any art institution, has had its fair share of exhibitions that failed to pull in the masses. One of the standard-bearers in this category was “Inno₇0,” which, according to institutional lore, was the most poorly attended show in the gallery’s history. Also known as “Art & Economics,” “Inno₇0” was intended to showcase the achievements of an entity called the Artist Placement Group, whose mission was to arrange artists’ residencies at corporations and government agencies.¹ Confusing to many observers in its day, APG appears a peculiar organization even from a contemporary standpoint. Social change was its object, but not in the sense intended by many of today’s socially oriented artists, who seek to facilitate lay creativity from the bottom up and to increase access to the arts for marginal audiences. When APG organized

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