Tuesday, March 17, 2009

Recessions, museums, art and Etsy

A comment on the last entry, plus recent work stuff and a story on NPR, all combined to get me thinking about the recession. Well, when do I not think about the recession - I have friends getting laid off, groceries cost way too much and I started clipping coupons for the first time since college.

There's been tons of talk about how the recession is impacting museums. In the 90s, during the last big recession, museums were in their boom period. We were expanding rapidly, building like crazy and growing at insane rates. (I can say "we" even though I was in high school and planning to be a doctor at that time.) However, lately we have seen museums hit hard by the economy. Most of the problems owe to the HUGE hit our endowments have taken. 

Conventional wisdom dictates that endowments are good. They are a steady stream of support and get you through the rough times. But, they are a bit like privatized social security. In a good market, they swell and grow and we build and build. In a bad market, our endowments wither away. The Indianapolis Museum of Art publishes the current size of its endowment online. They have lost $100 M in the past year. For perspective, thats about 1/3 of the total. That's huge.

And so, because of this, budgets are being slashed. Boards and directors are having to make tough decisions about staffing and exhibits. We are using volunteer labor for exhibits. We are using salaried people to do OT work. Luckily, we have not yet had to let go of staff, but we are officially the only large museum in Indianapolis to avoid layoffs.  

So, that's the bad news. Here is the good news. It's PACKED here today. I mean, crazy busy. Our attendance has been up - well up on many weekends. Its not yet Spring Break here, and we are already feeling the crowds. I think there is something to be said about the "staycation" effect - if you aren't taking the fam to the beach for Spring Break, why not come to the local museum? But...last spring, gas prices were creeping near $4 a gallon, and we didn't see this. I think there may be something more happening. 

So, what does this have to do with Etsy? Do you know Etsy? Its GREAT! Its online, one stop shopping for artsy crafty homemade items - clothes, vintage pieces, jewelry, you name it. And, in a time when retail is not so hot, and boutique stores are closing left and right, Etsy is doing quite well. I am not an economist, and I don't know if this is a reason, but I'll try.

I think (I think, I don't know, its my blog, I can op-ed) that when people are faced with declining income, a devalued dollar, and economic malaise, we want a return to simpler times. We made hats for the holidays - to great success. People are growing veggies (seed sales are up) and making their own sauces and salsas. My sister and I are going to learn to make jam and can food. Its not as much about being cheap as about putting value into things.

The items on Etsy are handmade - they are unique and there is a value beyond cost in them. Someone worked on this item. Someone put love into it. That may sound silly, but I really do think there is something to this.

So, back to museums. Why do I think museums will recover quickly? Or at least weather the storm? Because there is a value to museum visits above and beyond the price of admission. The people here inject their work with love and passion. And I truly believe that visitors see that. 

Museums need to get back to what they are - authentic places for a real experience. We've moved too far towards being fast food - we need to get back to being a sit down place, or better yet, a local diner. A place you feel comfortable just hanging out. I hope we can get there - I think we are getting closer. I think that the slow crumble of some larger institutions will, like large trees falling, make way for other sprouts to grow. 

I've rambled. I should really do these in one sitting, but ah well. :)

Until later!

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