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by GavinB
6273 days ago
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Reznor is a great guy, but I hope there's a future where people who make awesome stuff can get paid based on that, not based on charity, limited editions, and tie-ins. We need a new economic model for goods with real production cost but no reproduction cost. |
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Not only do I think that is impossible but I'm not convinced that it is a good idea. Has any economist ever done any quantitative analysis when the marginal cost of (re)production is zero? I suspect that there are only obvious models that answer the question by saying that goods with production costs of zero should be priced at zero. In the short term there are all sorts of things you can do to maximize profits when the marginal cost is zero, but in the long run the price will fall to zero.
This wistful hope that recorded music will be worth anything is kind of like my wistful hope that a viable economic system will come along that doesn't have a nasty tendency to concentrate the wealth in the hands of those that already have the capital.
Is that future you hope for really better than the one where something with a marginal cost of zero is priced in the market as it should be? I strongly suspect that the total amount of music recorded over time will continue to increase even as the cost falls to zero. I'm not sure what is so great about being able to sell digital music anyways. The limited editions seem infinitely superior to me as a consumer and are a great way to add a little bit of scarcity to a good that isn't scarce.