It depends what you class as art. In my opinion, much more thought, effort and creativity goes into letter graffiti than most of the contemporary nonsense you can find at the Tate in London.
People stand around and drool over Damien Hirst's weird shit that apparently to the unsuspecting dummy is worth a small fortune. When in reality it's just nonsense that they are trying to ascertain a non-existent meaning from.
But these same people will criticise a form of real art (graffiti), but yet call an inanimate object, a piece of art.
Another reason why real graffiti will never be accepted as art is because it's free to do, and it frees the mind. They can't charge you to spray a wall or a train, but they can charge you to stand around and admire banksy.
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