Acton Institute Powerblog Archives

Post Tagged 'bankruptcy'

The true face of ‘capitalism’

Frank Borman, then-chairman of the Eastern Airlines, said that “capitalism without bankruptcy is like Christianity without Hell.” That’s one way to take Peter Heslam’s reflection on the closing of BHS in the UK, “Business with a Human Face.” I would add that the purportedly impersonal nature of market exchange is also what attracts many of its supporters. Continue Reading...

Detroit’s ‘Get out of Bankruptcy Free’ Card

Aaron M. Renn’s reflections on the implications of Detroit’s bankruptcy are worth reading, especially as relate to the DIA, a topic of some previous interest over the last year or so: In the case of the DIA, the city owns the museum and the collection. Continue Reading...

Redeeming Culture Means Buying Back the DIA

Christians often talk a big game about “redeeming” the culture. I think the current dilemma facing the Detroit Institute of Arts (DIA) amid the city of Detroit’s bankruptcy provides a great opportunity to back up that talk with something concrete. Continue Reading...

Redeeming the DIA

Most commentators, apart from Virginia Postrel and the like, seem to think that it would be tragic for the city of Detroit to lose the art collection at the Detroit Institute of Arts (DIA) in the city’s bankruptcy proceedings. Continue Reading...

Detroit, Urban Development, and D.G. Hart

Darryl Hart has a bit of a go at “the hyperventilation that goes on in some neo-Calvinist circles when folks talk about the power of the gospel to redeem all of life,” using the woes of the city of Detroit as a trump card. Continue Reading...

Barbarians at the Gates of the DIA

The travails of Detroit’s bankruptcy and the implications for the Detroit Institute of Arts (DIA) continue to garner speculation about the place of art in society and the value of the DIA to the city, both now and in the future. Continue Reading...

Detroit’s Civil Society and the DIA

Photo Credit: Patrick Hoesly via Compfight cc Following up on last week’s proposal and discussion about the future of the Detroit Institute of Arts in the midst of the city of Detroit’s ongoing budgetary woes, arts commentator Terry Teachout penned a piece for the WSJ about the need for Detroit’s leaders to step up: “Protecting Detroit’s Artwork Is a Job for Detroit.” Among other things, Teachout writes, “Any argument to keep Detroit’s masterpieces in Detroit has got to make sense to Detroiters who think that pensions are more important than paintings.” Teachout goes on to explore a couple such arguments, but the most salient point is that Detroiters themselves are the best ones to make such arguments. Continue Reading...

The DIA, Public Art, and the Common Good

In today’s Acton Commentary, “It’s Time to Privatize the Detroit Institute of Arts,” I look at the case of the DIA in the context of Detroit’s bankruptcy proceedings. One of my basic points is that it is not necessary for art to be owned by the government in order for art to serve the public. Continue Reading...

Jayabalan on Detroit Bankruptcy

In an interview with Vatican Radio, Acton Rome office director Kishore Jayabalan offers perspective on the bankruptcy filing yesterday by the city of Detroit. Jayabalan told the network that Detroit is “really a city that’s on its knees.” Failing to fix its fundamental problems, he continued, the city must now change its “political and economic” infrastructure to come back from the brink, and that right now, much of the population has “given up.” Listen to the interview by clicking on the media player below: Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Continue Reading...