Final answer:
New York City's issues led to The Real Estate Show by Colab, reflecting artists' reactions to urban space commodification, gentrification, and inequality. This event involved Joseph Beuys' ideals by incorporating art as a form of social and political engagement, connecting to broader movements like Fluxus and performance art.
Step-by-step explanation:
New York City's mismanagement of public and private property, landlord extortion, and poor living conditions led to a notable event that caught the attention of the artist Joseph Beuys. The action was the A. The Real Estate Show organized by the artist collective Collaborative Projects Inc. (Colab). This show was a reaction to the gentrification processes and the city's fiscal crisis during the 1970s and 80s that led to severe cuts in public services and the deterioration of many of America's biggest cities. The Real Estate Show, which took place in 1980, was an illegal exhibition protesting the commodification of art and the use of urban space, challenging the relationships between art, real estate, and inequality.
The practice of making art a vehicle for political expression has roots in various artistic movements, including the Fluxus movement and the performance art of the post-World War II era. Joseph Beuys, with his shamanistic approach and the famous performance piece I Like America and America Likes Me, influenced artist collectives like Colab by showing that art could engage directly with social issues, a concept that was reflected in The Real Estate Show.