While many musicians have begun to compliment their work with elements and ideas taken from a number of other disciplines, these disciplines have typically not included economics. However, economics provides an effective analytical framework that people in many seemingly unrelated fields—including music—can use to illuminate issues they commonly face over the course of their professional activities. This article is intended as an example of this: using elementary economic tools, it examines from both a philosophical-aesthetic and practical standpoint the question of whether or not a music conservatory should charge the public for entrance to its students' performances.
Get full access to this article
View all access options for this article.
References
1.
CooterR. and UlenT., Law and Economics, Harper Collins, New York, 1988.
2.
GalbraithJ. K., The Liberal Hour, Houghton Mifflin, Boston, 1960.
3.
MarshallA., Principles of Economics, Macmillan, London, 1891.
4.
SmithA., An Inquiry into the Nature and Causes of The Wealth of Nations, University of Chicago Press, Chicago, 1976 (originally published 1776).
5.
ThrosbyC. D., The Production and Consumption of the Arts, Journal of Economic Literature, 32:1, pp. 1–29, 1994.
