Monday, May 12, 2014

The Music Industry's Income Inequality

One of the topics covered in the Principles of Microeconomics text is income inequality.  Unfortunately, I run out of time in the class to discuss this issue, but given it is finals weeks, here is an article arguing that the US economy's income inequality is similar to the music industries income inequality, where the top 1% of music performers take about 56% of concert revenues and the top 5% of music performers take about 90% of concert revenues.  The US economy is not this distorted, but the top earners are taking more of the overall income "pie" over the last few years.

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