End of Abstraction?

Abstract art is so imprinted on our conciousness that it seems odd to question its ongoing viability. Yet Hilton Kramer believes there are important reasons that “the place occupied by abstract art is now so radically diminished not only on the contemporary art scene but in cultural life generally… I mean its power to set the kind of agenda that commands the attention of new and ambitious talents—and at times, indeed, even the emulation of established talents.” Can that even happen anymore?