Tuesday 08/30/2011 by jackl

OBAMA'S ECONOMICS ADVISER KNOWS "ROCKONOMICS"

According to the New York Times article yesterday, President Obama's choice for a key economics adviser, Alan B. Krueger, a Princeton University professor, knows a lot about labor markets and unemployment, having written a key study on the minimum wage and effects on jobs. But Krueger also has a wide ranging set of interests in economic subjects, including a 2004 paper he co-authored on the concert industry entitled "Rockonomics: The Economics of Popular Music", online here.

The summary abstract of the paper states that it:

"... considers economic issues and trends in the rock and roll industry, broadly defined. The analysis focuses on concert revenues, the main source of performers’ income. Issues considered include: price measurement; concert price acceleration in the 1990s; the increased concentration of revenue among performers; reasons for the secondary ticket market; methods for ranking performers; copyright protection; and technological change.

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Comments

, comment by evoshandor
evoshandor So what?
, comment by Mattisupa
Mattisupa Does this mean that the global economy is now going to be based on goo balls and the one for $3 two for $5 principle?
, comment by jackl
jackl @Mattisupa said:
Does this mean that the global economy is now going to be based on goo balls and the one for $3 two for $5 principle?
Might be an improvement on what we've got now. I guess he's saying a lot of the global economy is ALREADY based on goo balls, we just didn' t know it. And most goo ball makers don't report the income so it doesn't go into GDP :-)

Anyway, the "so what" here is that the "music industry" and "concerts" are an important enough source of economic activity that serious economists study "rockonomics". And apparently that there's enough money in the biz that economists want to look at the economic and business side of music too.

It's not "only rock and roll" anymore to Very Serious People[tm] is the point I guess.
, comment by Dressed_In_Gray
Dressed_In_Gray @Mattisupa said:
Does this mean that the global economy is now going to be based on goo balls and the one for $3 two for $5 principle?
lulz!
, comment by evoshandor
evoshandor an absolute revelation, thank you for posting.
, comment by papadance
papadance Problem is, Obama gets mentioned too much by the admins on this site. There used to be a real effort to not mention politics. Leave this crap to Huffpo or drudge
, comment by evoshandor
evoshandor Obama = cult of personality

now the group thinkers will vote down this comment for not being supportive of 'our dear leader' and I won't be able to post again.

Phish isn't political.
, comment by bertoletdown
bertoletdown @evoshandor said:
Obama = cult of personality

now the group thinkers will vote down this comment for not being supportive of 'our dear leader' and I won't be able to post again.

Phish isn't political.
Relax, brezhnev
, comment by AugustWest2001
AugustWest2001 It begins....
, comment by WaxBrain
WaxBrain Please keep phish.net apolitical. Who gives a shit. The only politics I care aboot when it comes to Phish is Lot Politics! Who's got my _______??!?? And setlist politics!
Cheers.
, comment by TennesseeJed
TennesseeJed @evoshandor said:
Obama = cult of personality

Thanks for injecting that into the conversation.

The post isn't political. It doesn't endorse or degrade. It merely point out that the business of "Rock" is large enough that the economics of Rock is important enough to have been studied by the man in charge of the President's economic advisers.

In other words, this is a Phish website, Phish plays Rock, Rock is economically important enough that the economists at the highest level of Govt took enough interest to study Rockonomics.

Rock is really BIG MONEY.
, comment by evoshandor
evoshandor Hey Jed.

You needed to read a pdf from the President's economic team to gain the deep insight that "Rock and Roll" is big business?

That is almost as lame as the President's economic team looking at the "Rock and Roll" business for economic business models.

, comment by TennesseeJed
TennesseeJed @evoshandor said:
Hey Jed.

You needed to read a pdf from the President's economic team to gain the deep insight that "Rock and Roll" is big business?

That is almost as lame as the President's economic team looking at the "Rock and Roll" business for economic business models.
Dude, I'm not getting into politics with you.
, comment by spaced
spaced Good god, anyone who thinks the original post was about politics needs to work on their reading comprehension. The post says that a guy who now happens to work with the White House once authored an academic paper about the economics of popular music. The subject of the post was the paper, not the White House, Obama, etc.
, comment by evoshandor
evoshandor The pdf isn't political. Posting a pdf with the heading "Obama's Economic Adviser knows "Rockonomics". is political. I didn't bring politics to Phish.net, the person who originally posted the article did. If the writer weren't Obama's economic adviser this article wouldn't have been posted. If the title of the link didn't have Obama's name in it wouldn't have been posted. I didn't see Phish anywhere in the article or pdf. This is Phish.net.
, comment by TennesseeJed
TennesseeJed The evoshandor poster is a troll just ignore it. It has stinky feet.
, comment by evoshandor
evoshandor Jed,

I come to this website to read about Phish, not to talk politics, not to trade insults. I didn't post the article, I objected to it. You object to my objection, that's cool. The name calling is petty though.

This weekend is gonna kick so much ass.
, comment by spaced
spaced @evoshandor said:
The pdf isn't political. Posting a pdf with the heading "Obama's Economic Adviser knows "Rockonomics". is political. I didn't bring politics to Phish.net, the person who originally posted the article did. If the writer weren't Obama's economic adviser this article wouldn't have been posted. If the title of the link didn't have Obama's name in it wouldn't have been posted. I didn't see Phish anywhere in the article or pdf. This is Phish.net.
Krueger is in the news because he was just appointed as the chair of the White House council of economic advisors. That's obviously how the OP found out about the paper, so it makes sense to mention it in passing. If saying Obama's name exactly ONCE in a post about something else makes you fly into a rage, that sounds like a personal problem.

Do you honestly think this comment section would have had anything to do with politics had you not almost singlehandedly derailed it? I looove that you're now acting all conciliatory after your first three posts in this thread, in order: (1) insulted the OP, (2) insulted the OP again, and (3) compared Obama to Kim Jong-Il. But you aren't here "to trade insults!" Gosh no, you were just looking for a low-key, rational discussion and everyone jumped on you!

Either you are a troll or you've got personal problems of your own to deal with. Either way, I'm wasting my time in this thread.
, comment by iphollowphish2
iphollowphish2 no waaaay I just went ton the birthright program (free trips to Israel) with this dudes son Ben! thats fucking crazy to see him mentioned on .net the day we get back
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