[Alan B. Krueger] Rockonomics [romania Book] Epub

Free read Rockonomics

Stars like James Taylor and Taylor Swift The real money nowadays is derived from concert sales In 2017 for example Billy Joel earned 274 million from his live performances and less than 2 million from record sales and streaming Even Paul McCartney who has written and recorded number one songs than anyone in music history today earns 80 percent of his income from live concerts Krueger tackles commonly asked uestions How does a song become popular And how does a new artist break out in today's winner take all economy How can musicians and everyday workers earn a living in the digital economy. Rockonomics is a somewhat frustrating read a potentially excellent idea that isn t executed as adeptly as it could be and ultimately falls a little flat It might sound strange to say this about a book by a Princeton economics professor on the financial underpinnings of the music industry but it s major failing is that it focuses too much on the inner machinations of the music business at the expense of in depth economic analysis In the haste to make the financial and economic elements of Rockonomics as accessible as possible to a non academic audience the author Professor Alan Krueger appears to have sacrificed some intellectual heft Rockonomics sets out to be an exercise in storytelling an attempt to make apparently complex forces of market economics and globalisation relatable by refracting them through the prism of popular music Krueger s central argument is that how the music industry is structured can increasingly be seen as a metaphor for America s uneual society with a tiny elite of obscenely wealthy performers at the apex of a pyramid whose lower levels are comprised of jobbing musicians barely scraping a living It is Krueger s contention that elite musicians like Drake and Taylor Swift occupy a similar stratum to the 1% ers who are so freuently decried by the progressive left In fact Krueger sees the uneual nature of showbusiness and the music industry throughout the 20th century as being a precursor to contemporary income ineuality in wider society as he writes given the financial struggles of middle class families and the growing gap between the wealthy and everyone else the US jobs market has become a superstar winner takes all affair much like the music industry Krueger has packed Rockonomics full of ideas Too many of them perhaps He has a tendency to alight on a fascinating insight such as how economic forces are compelling bands to have fewer members or how the economic incentives inherent in streaming services like Spotify are changing the very structure of contemporary music with songs increasingly being frontloaded with hooks and choruses in the first 30 seconds for fear the inattentive listener will skip to the next track But before he can really flesh out and develop these ideas Krueger will have flitted off to discuss the burgeoning music industry in China or the changing nature of intellectual copyright in a digital world One of the most intriguing arguments that Robert Krueger posits is that music industry particularly after the advent of Napster and file sharing at the turn of the century has served as a laboratory for the kind of digital innovation and creative destruction that was latter absorbed by the rest of the economy Innovations like streaming the destruction of physical formats the upending of traditional modes of manufacturing and distribution happened to the record industry first and can now be seen replicated in everything from Netflix to the death of high street retail in the face of e commerce But in a way this represents the problem with Rockonomics this latter contention could have made a fine book in itself but Krueger dispenses with the argument within a page or two before swiftly moving on to another subject A further irritation with Rockonomics is that Krueger s financial analysis of the record business is interspersed with interviews with figures from across the industry Unfortunately few of these interviews such as those with a member of Tom Petty s Heartbreakers or with long forgotten 1980s pop starlet Gloria Estefan are really illuminating and instead smack of a publisher s reuest to break up the dry financial explorations with human interest stories This encapsulates the major flaw of Rockonomics by not having confidence that the reader will be willing or capable of following the author into the deep economic weeds it results in a book that is far fitful and superficial than it should have been Sadly Rockonomics represents a missed opportunity

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Rockonomics

Alan Krueger a former chairman of the president's Council of Economic Advisers uses the music industry from superstar artists to music executives from managers to promoters as a way in to explain key principles of economics and the forces shaping our economic livesThe music industry is a leading indicator of today's economy; it is among the first to be disrupted by the latest wave of technology and examining the ins and outs of how musicians create and sell new songs and plan concert tours offers valuable lessons for what is in store for businesses and employees in other industries that ar. Rockonomics Alan B Krueger 2019 325pp ISBN 9781524763718A light introduction to the money aspect of the music business See alsoKurt Dahl entertainment lawyer and musician advice at You Need to Know About the Music Business Donald S Passman 9th edition 2015 ISBN 1501104896The Economics of Music Peter Tschmuck 2017 ISBN 1911116088EXTREME INEUALITYThere are millions of very able musicians who can t earn a living at it And a minuscule number very highly paid The economy as a whole increasingly resembles thisThe top 1% of performers take 60% of all concert revenue p 14view spoiler Counting only concerts big enough to be on the radar of industry bigwigs Surely an infinitesimal fraction if it were to include all the live music tonite gigs at the average bar the band playing for drinks and tips hide spoiler

Alan B. Krueger ´ 7 Read

E struggling to adaptDrawing on interviews with leading band members music executives managers promoters and using the latest data on revenues royalties streaming tour dates and merchandise sales Rockonomics takes readers backstage to show how the music industry really works who makes money and how much and how the economics of the music industry has undergone a radical transformation during recent decadesBefore digitalization and the ability to stream music over the Internet rock stars made much of their income from record sales Today income from selling songs has plummeted even for super. Alan Kruger passed away earlier this year He was a prolific and widely cited Princeton economist I was most familiar with his research on minimum wage laws and their effects but he was active in many areas Then I heard about this book on the economics of the music business Anyone seriously interested in the music business especially since Napster will likely learn much from this book and will miss Alan Krueger after reading itThe rap on economics research applied to business is that it is too global or macro and also much to abstract and driven by statistics and data Since the publication of books like Freakonomics that provide solid and incisive economic analysis on real life problems and situations Unfortunately the supply of accessible books on businesses that provide analysis and insight than sales pitch and war stories has not kept up with the demandThis is especially the case for industry studies which examine entire related areas of business Such analyses inform about what anyone in a business is trying to do and what businesses in a given industry or sector need to do in order to succeed even at a modest level Industry studies provide the broad set of institutions and rules within which any firm even a great one must operate in order to excel and beat its competitors The industry is the larger set of activities and actors that make a business possible at all Understanding the industry is key to knowing how anyone gets to make money in a given area This is especially true for popularly accessible areas like music that affect everybody in a wide variety of ways Seriously how many people have entertained the thought of being a musical performer at some time in their lives and how many people know of others trying to pursue such a career Few of us know people who have really succeeded in spite of the long oddsThere have been lots of popular books detailing the current state of the music or related pop culture businesses These books describe recent developments include case studies of individuals and sometimes even collect some data or uote someone who does Very few of these books do a good job at explaining how the music business works in terms that can be used to explain a variety of industries and professions The variation in experiences is wide data are scarce and the extreme examples are already well known through the mediaKrueger s extraordinary book looks at the music business through the conceptual frameworks of a top economist and adds to that some significant data analysis of important data bases and interviews with real industry players There are also lots of references for those wishing to read Before looking for other books however the reader will need to digest the feast that Krueger provides This is a well written eye opening and informative book although some niche areas in the music business receive much attention than othersKrueger s book is organized around seven general economic concept areas that he revisits as needed in his chapters These include supply and demand scale and non substitutability the role of luck complementarities price discrimination costs and non monetary values These ideas are developed in eleven chapters nearly all of which feature some extended interviews as well as the analysis The book has a nice set of photos of major stars and even has an appendix on the analyses of the Pollstar database reported in the bookI rated the book a 4 but could have easily chosen a 5 instead Whether I change will depend on how the analysis seems after I think on it a bit So I am at a 45 right now


10 thoughts on “Rockonomics

  1. says:

    No one else could have written a book with this range Rockonomics draws on economic theory standard government surveys proprietary administrative data a uniue survey fielded by the author and interviews with a range of people in the music industry It covers just about every aspect of the music industry The book focuses on

  2. says:

    Rockonomics Alan B Krueger 2019 325pp ISBN 9781524763718A light introduction to the money aspect of the music business See alsoKurt Dahl entertainment lawyer and musician advice at You Need to Know About the Music Business Donald S Passman 9th edition 2015 ISBN 1501104896The Economics of Music Peter Tschmuck 2017 ISBN 1911

  3. says:

    Princeton economics professor Alan Krueger examines the music industry hoping to demonstrate the study of economics through the prism of popular music and hoping to draw parallels to the economy at large The result is of a book about the music business than about economics but I wager that most readers are intere

  4. says:

    I loved loved loved Rockonomics it makes my heart break that Alan Krueger will not live to see the success this book is guaranteed to have with the general publicYes it’s an exaggeration to say you will learn economics from this But if you’re a loser like me who knows the economics and wants to find out about the musi

  5. says:

    Let's get one thing out of the way This is neither the sort of exhaustive coverage of recorded and performance popular music that David Byrne gave us in How Music Works nor is it the popularization of macroeconomic theory and pop culture provided in light hearted studies such as Dubner Levitt's Freakonomics Nev

  6. says:

    Alan Kruger passed away earlier this year He was a prolific and widely cited Princeton economist I was most familiar with his research on minimum wage laws and their effects but he was active in many areas Then I heard about this book on the economics of the music business Anyone seriously interested in the music busine

  7. says:

    “Rockonomics” is a somewhat frustrating read a potentially excellent idea that isn’t executed as adeptly as it could be and ultimately falls a little flat It might sound strange to say this about a book by a Princeton economics professor on the financial underpinnings of the music industry but it’s major failing is that it focuses too much on the inner machinations of the music business at the expense of in depth economic analysi

  8. says:

    If you are a music geek

  9. says:

    Alan Krugers last book is indeed a doozy it answers pretty much every uestion one might have about the Economics of the music industry and how it relates to the overall trends our economy has been facing for the past few decadesOf Primary intrest is how artists and producers has adapted to the rise of streaming mostly by touring a lot the winner take all nature of the music industry which parallels the trend in our so

  10. says:

    A fabulous must read book that teaches you tons about business economics musicWhat’s compelling The nitty gritty details of how the business of music really works What makes money the scams scoundrels scalawags success levers involved Stunning revelations about consumption payouts in the music industry even the fees of 'unused health clu