| >There is much more demand for these tickets than there are supply of tickets, so my econ 101 tells me the price should go up until the demand drops to match the supply. Maybe you should open your mind to the possibility that what you were taught in econ 101 is partly (mostly) bullshit. I have an economics degree and I've come to learn more in life that it's so much bs for the most part. First of all, if there was relatively wealth equality, then it might be more realistic to say "ok, they will increase the price to some level until people want to stop buying it". The problem is, there is so much wealth inequality that ticket prices just keep rising so only the top 5-10% of people can afford anything. Let's say a family is making $200k a year. A ticket price going from $50 to $100 to $200 isn't that big of a deal, they will still pay it. But it completely fucks the rest (majority) of the population that isn't making that kind of money. They want to go to a concert as well. They want to go to a football game. But the prices are so outrageous they can't afford it. However this well off/wealthy part of the population is willing to pay it.. so something like Ticketmaster just keeps pushing prices as much as they can. This whole supply/demand thing is utter crap when there is wealth inequality. People like you use get this smug look on your face and talk about supply & demand like it's some kind of inherent law of nature. You know what it's based on? GREED. It's literally based on charging AS MUCH AS YOU CAN to people instead of a "fair" price. By fair I mean ensuring that the seller is reasonably compensated and that the majority of the population can still afford. Yes "fair" is not easy to define, I get that. But it's clear that "fair" is not charging as much as you possibly can just because a small majority of the population will still pay for it. Ticket prices are not "reasonable" by any means. It's literally rich people charging as much as they can because they know rich people will just pay it. Not giving one shit about anyone else because "supply & demand"! >Music fans like to moralize about how they "deserve" to go to concerts, but the reality is nobody deserves to go anywhere; attending a concert is not something you must do in order to survive Ah, so the well off / rich "deserve" to go to concerts because they make more money. But people struggling don't "deserve" similar forms of entertainment. Glad you cleared that up. Seriously, that sentiment pisses me off to no end and it's literally one of the biggest problem in the world. I make good money so I'm not coming at this from the struggling perspective. But every year that goes by this whole world pisses me off even more because there is no compassion. It's all about money. It's all about making more money. It's all about maximizing profits and squeezing as much as you can from everyone else so you get yours. It's all about getting what you want and not someone else. Yeah I'm ranting here, but I'm not sure how one could sit back and read this "supply & demand" and "people don't deserve X because they don't make Y" without going bonkers. |
It's not just about price and wealth inequality. If everyone decides they want to go to the same event then some will be disappointed and they'll complain bitterly.
I've been to large concerts and big stadium events. It's not worth it. The events actually seared into my mind are the tiny ones, like seeing a band I'd followed for years in a small bar in Copenhagen and being within arm's reach. What am I trying to say here? Those tickets that everyone is clamouring to get probably have a very low experience value if people would only seek out other things to fill the same hole they purport to have.