March 21, 2023
As recorded music formats repeatedly changed during the past 50 years, we saw the progress that creative destruction can create.
As recorded music formats repeatedly changed during the past 50 years, we saw the progress that creative destruction can create.
Changes in recorded music sales were fueled by new formats that started with vinyl and eventually became streaming.
Our week's everyday economics include inflation, supply and demand, income mobility, property rights, incentives, default, CDS, and monopoly pricing.
With the music industry moving from CDs to streaming, firms like Spotify have created new supply and demand and new incentives for performers and providers.