Wednesday, April 21, 2010

We caused the financial crisis

In the financial crisis institutions and brokers made money not by being productive but by packaging and repackaging financial instruments. It was a form of fiscal bricolage that fused economic politics with marketing. In a lot of ways, it's not so different from what we do in certain art classes. When we get away from observation and understanding, we teach students how to manipulate and leverage cultural capital in new ways.

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