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As an aside, I doubt the example of a musician not getting more productive is correct. The invention of cheap recording media and especially radio and TV has ma
by shellfishgene 5y ago
As an aside, I doubt the example of a musician not getting more productive is correct. The invention of cheap recording media and especially radio and TV has made musicians massively more productive if you measure it by number of listeners. Also fast travel makes them more productive, if you can play 5 major cities a week you make much more money than with 5 shows in the same city, hence musicians going on tours.
- roel_v 5y agoBut not (or much less so) in 1965, which is when Baumol made his observation.
- Mvandenbergh 5y agoFast travel and recording media lead to gains for the very best or most popular musicians who are now able to sell their music much more widely and play large venues in many cities more easily. It doesn't make the equivalent of the talented bar cover band any better off, in fact it socially demotes them to being something called a "cover band" when before these technologies that would have been almost any band.