Far flung tenents of postmodernism

I've been doing quite a bit of hunting around on the internet concerning postmodernism. I find the topic interesting and the various definations fascinating as well. Take for example this article: http://www.colorado.edu/English/ENGL2012Klages/pomo.html . It is about the comparision of modernism and postmodernism in literature. I often find that literature and the visual arts go hand in hand with their explorations of certain topics. I've seen them trade off as concerns who really started a movement but it's always helpful to study the argument and conclusions from as many angles as possible to understand it well. I found this article to explain that both diciplines view modernism and postmodernism in much the same lights. They use different words and the chain of logic is a bit different between the two, but the basic similarity is there.

I think that the visual art world is still working through the acceptance of an idea that the difference between high and low art needs to go. Currently the argument settles on the acceptance of craft as art equally respectable and collectable. Yes, of course the blue haired little old ladies have always collected craft. :) I'm talking about the folks with the REAL money. And I do know that much of the wealth of the U.S. is now in the hands of retiring baby boomers. I wonder what impact this purchasing power has on the definations of art, since many of these retireing folks now have a source of disposable income and the time to explore how to invest and spend it. The basic formulation of this question is:

Do people that collect figurines now have enough purchasing power in large enough numbers to change the face of the art world?