Question

The Royal Academy in France (as well as its counterpart in Great Britain) essentially set the standards of taste and style in art from the mid-1600s through the 1800s.
Think about who or what sets artistic styles and tastes today.
Are there a select few authorities or institutions whose opinions are respected? Or, is art more democratically produced?

Answer 1

By the end of the 19th century, Salons dominated in France whereas the traditional academies had already started losing their importance.

Modern art market is shaped and ruled by desire and means with an unprecedented crowd of admirers and appreciators who have both the resources and willingness to buy art. This ever-expanding pool of art lovers (with propensity & education) for the art’s appreciation. So, we can say the monopoly of any academy that would erstwhile set these standards in art has ended in the modern context where the ultimate audience sets these standards by showering their appreciation for an art and artwork.