about foundwealth
FOUNDWEALTH < about foundwealth >

What really got me going with the FOUNDWEALTH project is a quote I read from the Canadian investor Andrew Sarlos, who was called the "Buddha of Bay Street". He was quoted as saying, "I like gold, real estate, and floating rate instruments". I thought, "so do I," even though I did not know what he meant by a floating rate instrument. From the Buddha of Bay Street, I met Pope Leo the 13th who, in a 1891 encyclical letter, wrote on the condition of the working classes. The letter underlined the duties of the rich and the duties of the poor. I read the amazing story of John Sutter who was in the process, through his sawmills, of becoming one of the wealthiest men on the Pacific Coast. The discovery of gold on his own property in 1848 ruined him. I got interested in the similarity between the gold rush and the tech rush. I saw, floating in the market, in the office towers, the invisible hand that Adam Smith. He was the Scottish Economist who, in 1776, published his theories: An inquiry into the Nature and the Causes of the Wealth of Nations.

FOUNDWEALTH is not a linear story. There is no particular story, only a collection of stories. It is about money and it is about the relationships between people. It is about the gap. It is about the pursuit of happiness and the idea that joy springs up from the consumption of products. It is about consumerism and society's danger of self-combustion. It is a choice of events and moments, of fragments that I have put together to help me understand what is going on. I wanted the installation FOUNDWEALTH to be a poetic reflection, a kind of frontal collision-relationship of the rich and the poor. I had an image of a bridge made of burning rags that were thrown over the abyss where the river called Economy runs furiously. I wanted the carpet cleaning trainee to talk to the capital risk investor; maybe they could find some common ground?

I have tried to matched high end materials of bevelled glass, a light table, thick carved glass with elements of a lower denomination: dirty oil, broken glass, discarded objects, raggedy assemblages. I was attracted to the showcase idea, similar to the ones found at the Gold Museum in Bogotà. I wanted to have inserts in the walls of the gallery; to suggest a relation between the installation and the building that is similar to the relation of the Economy with Society. I wanted the light to be seen and to indicate both the end of a journey and the beginning of a certain degree of hope. I felt that the moment where the light was seen was a moment where space and time were crunched together into a new thing; the split second where choices are made. I wanted the installation to be about that moment where everything could happen. This moment of decision, or indecision looks a lot like our point in time. It seems as if we are moving into a corridor of weightlessness. Acting like astronauts in a tube, we have to look, while lost in the dark, at the light that may come through the cracks; to guide us and to inspire us to continue forward, to believe that there is some worth in everything and that maybe wealth is not what we thought at first.

The installation is composed of seven works: Wealth Maker; Fake Wealth, Found wealth, Seven Seas, The Invisible Hand of Adam Smith, Huge Promises, and Snake Oil (every thing will be OK). The number 7 has always held a powerful and mystical place in the world; we have only to think of the seven seas, those navigable waters of the world; roads to treasures and adventures. The Seven Marvels of the World included: the lighthouse in Alexandria; the Seven Deadly Sins (Envy among them); the Seventh Heaven where God and the most exalted angels dwell; and the Seven -Eleven, a place where you can buy a 6-49.

Is wealth something that one can find? How can it be found and how can it be maintained? Maybe it happens simply, by fortune. Maybe it happens by ingenuity. Perhaps it is a bit of both luck and skills, patience, timing and audacity. The final answer belongs to Machiavelli:

"Without that opportunity the strength of their spirit would have been extinguished, and without that strength the opportunity would have come in vain."
 
FOUNDWEALTH was first shown at Struts gallery, Sackville NB in march 1999.
Review by Allison Hughes
Review by Julian Forest.
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