Friday, February 01, 2013

Regulation

We're supposed to be upset that royalties for music streamed on the internet are small. Some musicians will have to find other work. But that's what happens in every industry. If you try to sell snow to an Inuit, you're probably not going to make much money. Making money is about providing goods to others. If you provide little, you make little. If you make too little, you need to find another job. I'm sure musicians believe they're being underpaid, but everybody believes that. If it was true, a competitor would come along and offer to pay them more.

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