The institute has published a report available here (registration required). From the press release:
Participants examined how market-based financial innovations could help stem the black market on antiquities by changing incentives that would create cultural and economic value to all stakeholders.
“An open, more efficient market can help address many of the problems that plague the antiquities trade, including poverty, corruption and environmental and cultural degradation,” said Glenn Yago, director of capital markets at the Milken Institute. “The whole chain of events, from country of origin to museum or personal collector, needs a new set of legal market-based rewards.”
I gave a few comments on the intersection of the Treasure Act and the Portable Antiquities Scheme in England and Wales, which I expanded and developed into a longer article.
I've read the report, and it offers three potential ways we might use these "financial innovations" to reform the antiquities trade:
- long-term leases for museums and exhibitions
- museum/collector partnership-sponsored digs
- the design and development of archaeological development bonds
The event itself was great, and it brought together a number of stakeholders -- including archaeologists and antiquities dealers. It was clear that they have deep-seated disagreements, but there was a core of things upon which they did agree, which is the foundation of any effort at reform.
I strongly encourage those interested in the antiquities trade to give the report a read.