The Rock Star theory of rising inequality and development successes

from Alan Krueger’s study of “Rockonomics”

Top?1% Rock Stars are?getting more and more of Rock Income.

The explanation? Cheaper audio equipment means top stars can capture more of the market. Why listen to the second-rate stars?when the first-rate produce an unlimited number of recordings for you to listen to them? (And then you want to go to their concerts too?)

Does this have something to do with the general rise in inequality in the US? In the world?

Are rock stars also a good analogy for other development successes? Stay tuned.

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