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Valuing Detroit's Art Museum - A History of Fiscal Abandonment and Rescue (Paperback, Softcover reprint of the original 1st ed. 2017)
Loot Price: R3,319
Discovery Miles 33 190
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Valuing Detroit's Art Museum - A History of Fiscal Abandonment and Rescue (Paperback, Softcover reprint of the original 1st ed. 2017)
Series: Palgrave Studies in American Economic History
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This book explores the perilous situation that faced the Detroit
Institute of Arts during the city's bankruptcy, when creditors
considered it a "nonessential asset" that might be sold to settle
Detroit's debts. It presents the history of the museum in the
context of the social, economic, and political development of
Detroit, giving a history of the city as well as of the
institution, and providing a model of contextual institutional
history. Abt describes how the Detroit Institute of Arts became the
fifth largest art museum in America, from its founding as a private
non-profit corporation in 1885 to its transformation into a
municipal department in 1919, through the subsequent decades of
extraordinary collections and facilities growth coupled with the
repeated setbacks of government funding cuts during economic
downturns. Detroit's 2013 bankruptcy underscored the nearly 130
years of fiscal missteps and false assumptions that rendered the
museum particularly vulnerable to the monetary power of a global
art investment community eager to capitalize on the city's failures
and its creditors' demands. This is a remarkable and important
contribution to many fields, including non-profit management and
economics, cultural policy, museum and urban history, and the
histories of both the Detroit Institute of Arts and the city of
Detroit itself. Despite the museum's unique history, its story
offers valuable lessons for anyone concerned about the future of
art museums in the United States and abroad.
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