The Jazz Bubble:

[ish mailian]

Increasingly, the idea of jazz is being put to work as a cultural
asset, a powerful tool for attracting investment. We see this for
instance with the emergence of the social impact bond as a new-ish
kind of financial instrument, where an institution’s success in
meeting metrics of social improvement determines return on investment;
social impact bonds played a key role, for example, in Goldman Sachs’
financing of the construction of the New Orleans Jazz Market in the
Crescent City. In a variety of local contexts, the idea of jazz as a
signifier of urban vibrancy has become a favorite tool through which
semi-autonomous community redevelopment agencies seek to catalyze
global investors: for instance, the San Francisco Redevelopment
Agency’s recent project in the Western Addition, which linked a San
Francisco chapter of the esteemed Yoshi’s jazz club to a mixed-use
development, presented itself variously as an investment opportunity,
and also as the SFRA’s effort to atone for the destruction wrought by
midcentury urban renewal in the Fillmore district.

Ten years on, the aftermath of the 2008 financial crisis may have
primed us to notice the ubiquity of financialization in American
public life, to sense how its various iterations pop up in the most
unexpected places. The various efforts of corporate, governmental, and
nonprofit institutions to link the cultural capital of jazz to urban
development – and, by extension, to global financial markets – serve
as a sobering reminder of the degree to which publicly beloved
cultural institutions have been repurposed to fit the priorities of
twenty-first century capital.

https://www.ucpress.edu/book/9780520279384/the-jazz-bubble