Word: money
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Dates: during 1970-1979
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...world are skeptical of any deal whereby an auction house may in effect end up supporting its own market. Says David Bathurst, Christie's New York president: "Using art as an investment scares the hell out of me. There's going to be a flood of money in and out, leaving a sound market devastated because of people who shouldn't have been there in the first place...
People buy art for all reasons and with all incomes. Broadly, however, they fall into three categories: the amateur, who appreciates beautiful objects for their own sake; the investor, who is primarily intent on making money; and the rare great collector, who assembles treasures on the grand scale that enriches society. Three vignettes...
...what, exactly, does it mean? On the most obvious level, it means what everyone knows: that money is losing value. But it also means that we are in the grip of a wave similar to what, in 17th century Holland, was known as the Tulip Mania. The tulip was then a comparatively new import from the Near East, and mutant specimens, with irregular stripes, were prized as rarities-so prized that men would mortgage their villas and their fields. The tulips had little intrinsic value. Their worth as commodities was a function of pure, irrational desire, and their economic fate...
...appeal has gone to the state supreme court. Once that appeal has been heard, the state no longer has an obligation to provide a lawyer, leaving most of the condemned on their own if they wish to seek post-conviction remedies in state and federal courts; most lack the money to hire their own attorneys. If the prisoner pursues the entire series of possible petitions, appeals and rehearings, the process can take anywhere from five to six years...
Morris shares the limelight in the Georgia death penalty struggle with Millard Farmer, 45, who heads Team Defense, a money-starved Atlanta organization that represents about 10% of the state's death row prisoners. As his three criminal contempt citations indicate, Farmer pulls no punches in the courtroom. Once, while defending a black charged with killing a white police chief, Farmer's effort to have an impartial judge preside over the trial led to the disqualification of five judges. The prosecuting attorney was so upset that he burned one of his law books. "I don't have...