Rockonomics: How the Music Industry Can Explain the Modern Economy

Description

'An entertaining guide to economics by a former adviser to Barack Obama that uses the lessons of the music business to explain what is happening in the rest of the world' The Times, Books of the Year 'A key voice on a vast array of economic issues for more than two decades' Barack Obama 'An absolutely brilliant mind. The definition of left and right brain balance' Quincy Jones 'The music business keeps re-inventing itself (from records, to tape, to CDs to streaming) and Alan Krueger covers all the bases. As one former LSE student once sang: 'its only rock and roll but I like it, like it, yes I do.' That applies to this book too' Richard Thaler, Nobel Prize Recipient and author of 'Nudge' 'Rockonomics is entertaining, educational and enlightening. Alan Krueger gives us a backstage tour of the music industry - and in doing so, he creates a brilliant metaphor for our entire economy. Highly recommended' Harlan Coben Alan Krueger, the former chairman of the president's Council of Economic Advisers, uses the music industry, from rock artists to music executives, from managers to promoters, as a way in to explain the principles of economics, and the forces shaping our economic lives. The music industry is often a leading indicator of today's economy; it is among the first to be disrupted by the latest wave of technology, and examining the ins and outs of how musicians create and sell new songs and plan concert tours offers valuable lessons for what is in store for businesses and employees in other industries that are struggling to adapt. Drawing on interviews with leading band members, music executives, managers, promoters, and using the latest data on revenues, royalties, tour dates, and merchandise, Rockonomics takes readers backstage to show how the music industry really works - who makes money, how the economics of the music industry has undergone a radical transformation during the last twenty years, and what this tells us about our wider economy today.

Alan Krueger was the Bendheim Professor of Economics and Public Affairs at Princeton University and Research Associate at the National Bureau of Economic Research. Formerly President Barack Obama's chairman of the White House Council of Economic Advisers, he was widely published on issues related to education, labour markets and income distribution.

A key voice on a vast array of economic issues for more than two decades * Barack Obama * Does what Krueger did best - brings economics to life, and life to economics * The Times * The music business keeps re-inventing itself (from records, to tape, to CDs to streaming) and Alan Krueger covers all the bases. As one former LSE student once sang: 'its only rock and roll but I like it, like it, yes I do.' That applies to this book too * Richard Thaler, author of 'Nudge' * An eye-opening and entertaining read * The Economist * An absolutely brilliant mind. The definition of left and right brain balance * Quincy Jones * An intriguing read for those who want to understand how their favourite bands are - or aren't, as the case may be - staying afloat in the streaming era * Mojo * The author's sparkling intelligence and lively prose make for a thought-provoking and enjoyable read ... [a] vivid, human portrait provided of the broader music ecosystem * New York Times * Rockonomics is entertaining, educational and enlightening. Alan Krueger gives us a backstage tour of the music industry - and in doing so, he creates a brilliant metaphor for our entire economy. Highly recommended * Harlan Coben * Krueger's book does a fine job describing the financial underpinnings of the music trade and pulling together the many still-shifting strands which will determine its future * Reuters * [A] highly readable book...It is Krueger's meticulous attention to detail that makes his work so compelling -- John Meagher * Irish Independent Review *