From 2004:
I know of very few American men of affairs (to exhume a wonderfully musty old phrase) who have much of anything to do with art other than as collectors, in which capacity they not infrequently develop considerable sophistication over time. But ask them to talk about the art they own and they have a way of coming up short. This doesn’t necessarily mean they get no aesthetic pleasure out of their art—intellectuals have a nasty habit of regarding verbal dexterity as a virtue, invariably to their cost—but it does make you wonder….
Read the whole thing here.