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> Do they really believe the value of playing music is derived solely from the effort to produce it If you remember anything from your economics courses, you s
by barrkel 7y ago
> Do they really believe the value of playing music is derived solely from the effort to produce it
If you remember anything from your economics courses, you should remember that in an efficient market, the price of something should decline to its marginal cost of production, due to competition undercutting the overpriced competitors. Your point might be relevant if there are wild swings in the demand for music.
- anm89 7y agoAnd has that happened? Instead top trained musicians command huge salaries and people pay out the ass to see them. "In an efficient market" Well we aren't living in a perfectly efficient vacuum so who cares? You are point in case what Im talking about. You believe that the sanctity of your theoretical view of the world is more important than what happens in the real world. I could argue about what happens to musician salaries if they all were covered in butter and learned how to fly. It would be about as useful of a conversation as debating perfectly efficient markets. Economics truly earns its reputation as the dismal science.