
Frank T. answered 04/10/19
Professor and Editor w/ 40 years of university and tutoring experience
Of course not. Pre-capitalist societies (barter, feudalism, etc.) and socialist societies have often produced great art. Think of the Soviet silent cinema of the 1920s.
Of course, if you are asking about the way art is bought and sold on the international market (auctions, private sales, galleries, museums, etc.), then capitalism reigns in capitalist societies. Theodor Adorno, one of the Frankfurt School of Marxist theorists, often referred to art as "products of the Culture Industry" to emphasize how intertwined creative work is with the "iron laws" of capital.