An “Immeasurable Sign of Great Hope": The Detroit Institute of the Arts, Municipal Bankruptcy and “Cultural Assets"
Washington University Journal of Law & Policy
An “Immeasurable Sign of Great Hope": The Detroit Institute of the Arts, Municipal Bankruptcy and “Cultural Assets",
Wash. U. J. L. & Pol’y
This Note analyzes the tension between essential services and culture in the context of voluntary Chapter 9 bankruptcy petitions. Using the Detroit’s Chapter 9 bankruptcy as a case study, Gosch discusses the future impact the Detroit bankruptcy will have on large-scale municipal bankruptcies. Gosch then proposes statutory changes to Chapter 9 designed to resolve the tension between pure economics and social viability. Gosch argues that protecting basic human needs and higher cultural aspirations are both essential to preserve the value that culture adds to municipalities.