5 ms·

Many of my friends work in the classical music scene in London, which is one of the foremost in the world. With the banks is going a lot of the money for this s

Many of my friends work in the classical music scene in London, which is one of the foremost in the world. With the banks is going a lot of the money for this sort of thing, and not just the big ticket stuff - the community outreach programmes and local festivals are usually first against the wall. It's a tragedy that will take years if not decades to recover from, but given how fucked everything else is too it's not getting much press.

coldtea 9y ago
So, that was a scene that was on life support by banks. Either the society has to decide it wants classical music as a protected cultural good (and e.g. put it in government grants and subsidies) or the masses should (and e.g. pay for concerts and stuff). Apart from those things, I don't see it as any great tragedy for something that's neither of them to lose its bank-derived financing.
- crc32 9y ago
  In your logic "life support by banks" = "pay for concerts and stuff". The dimension you are missing is spatial, in that this would now happen elsewhere from London, and the "externality" of non-banker Londerners being able to experience this, is the negative effect referred to by the OP.
  - coldtea 9y ago
    >In your logic "life support by banks" = "pay for concerts and stuff". No, in my logic there are two distinct things: the public paying for concerts (and the public not caring) vs the public caring and supporting them itself. In the first case, it's just the banks buying some prestige by playing to supposed upper middle class preferences, and get some free publicity plus some tax exceptions for those sponsorships. >The dimension you are missing is spatial, in that this would now happen elsewhere from London, and the "externality" of non-banker Londerners being able to experience this, is the negative effect referred to by the OP. So? If the Londoners didn't care for those events enough to support them themselves in the first place, why would they have a problem now that foreigners, and not themselves, will get to "experience" those?
    - fredley 9y ago
      No Classical music makes money, it does not support itself anywhere. It is a charitable cause.
    - allendoerfer 9y ago
      Banks do it, because high-paid workers want to live in a culturally rich city. That's also why cities invest in operas, it raises tax income. Same in Frankfurt. Cities, banks and the general public have the same interests here. Once the banks leave, the general public and the city loses.
matt4077 9y ago
Yes, of course. Sorry for the cheap cliché about bankers, when they, both as customers and through their firms' support do indeed support many worthy causes. I hope the cultural scene in London won't be hit too hard–they must have been among the strongest supporters of continued EU membership, considering how international it is. Maybe rent prices at least drop a bit to compensate. Or Britain&The EU find a way out of this misery once the consequences sink in.

coldtea 9y ago

So, that was a scene that was on life support by banks. Either the society has to decide it wants classical music as a protected cultural good (and e.g. put it in government grants and subsidies) or the masses should (and e.g. pay for concerts and stuff). Apart from those things, I don't see it as any great tragedy for something that's neither of them to lose its bank-derived financing.

crc32 9y ago
In your logic "life support by banks" = "pay for concerts and stuff". The dimension you are missing is spatial, in that this would now happen elsewhere from London, and the "externality" of non-banker Londerners being able to experience this, is the negative effect referred to by the OP.
- coldtea 9y ago
  >In your logic "life support by banks" = "pay for concerts and stuff". No, in my logic there are two distinct things: the public paying for concerts (and the public not caring) vs the public caring and supporting them itself. In the first case, it's just the banks buying some prestige by playing to supposed upper middle class preferences, and get some free publicity plus some tax exceptions for those sponsorships. >The dimension you are missing is spatial, in that this would now happen elsewhere from London, and the "externality" of non-banker Londerners being able to experience this, is the negative effect referred to by the OP. So? If the Londoners didn't care for those events enough to support them themselves in the first place, why would they have a problem now that foreigners, and not themselves, will get to "experience" those?
  - fredley 9y ago
    No Classical music makes money, it does not support itself anywhere. It is a charitable cause.
  - allendoerfer 9y ago
    Banks do it, because high-paid workers want to live in a culturally rich city. That's also why cities invest in operas, it raises tax income. Same in Frankfurt. Cities, banks and the general public have the same interests here. Once the banks leave, the general public and the city loses.

matt4077 9y ago

Yes, of course. Sorry for the cheap cliché about bankers, when they, both as customers and through their firms' support do indeed support many worthy causes. I hope the cultural scene in London won't be hit too hard–they must have been among the strongest supporters of continued EU membership, considering how international it is. Maybe rent prices at least drop a bit to compensate. Or Britain&The EU find a way out of this misery once the consequences sink in.