On this episode of METALOMICS, we discuss the phenomenon of monopoly and how monopolistic markets behave. What can we expect in a monopolistic market? What is the effect on consumers? The quality of the goods and services sold? The price? The quantity? How would a monopoly behave in the market for concert tickets? What if, for all intents and purposes, you could only buy concert tickets from just one seller? What if everyone who attended a concert gained access from the same entity? What if, in the dimly lit concert hall, it is more than the music that brought everyone together? What great power, what great responsibility. To borrow a sentiment from Tolkien, this one entity would have the power to rule them all, to find them, to bring them all, and in the darkness bind them.

Economics is Metal!

Music: xBound in Bloodx - If It’s a Mess

Follow the Band: xBound in Bloodx

Hosts: Josh Goddard & David Ingram

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://metalomicspodcast.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/metalomics/⁠⁠⁠

On this episode of METALOMICS, we explore how society values, or rather devalues, the musician. How the spoils of the music war are divvied up, and how musicians can navigate an increasingly perilous and complex terrain to realize financial sustainability. The ultimate question we ask is this: Can the musician overcome the stigma that beats down on the beggar and the artist alike?

Economics is Metal!

Music: ⁠⁠⁠⁠⁠⁠⁠ ⁠Whole World Wept - Guilt Trails

Follow the Band: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠Whole World Wept

Hosts: Josh Goddard & David Ingram

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://metalomicspodcast.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/metalomics/⁠⁠⁠

A central purpose of economics is the study of how scarce resources are allocated. How raw materials are appropriated from nature and transformed into goods, how people organize to deliver services, how people and things come together to create new things for themselves and others. It is very much a study of inputs and outputs. When a particular output requires a minimum of inputs, this process is considered efficient. It means that, with the available technology and capital, the output could not be achieved with fewer inputs. But what happens when technology allows for greater efficiency? What happens when the input required to, say, operate a steam locomotive is drastically reduced? Your intuition may lead you to surmise that total consumption of that input would decrease, ceteris paribus (all other things being equal, that is). The truth of the matter is, it may not be that simple. In fact, that very opposite may be true, and to a very dangerous effect. At least that’s what William Stanley Jevons argued, and we are still talking about it more than a century and a half later.

Economics is Metal!

Music: ⁠⁠⁠⁠⁠ Monsters - Will of Igris

Follow the Band: ⁠⁠⁠⁠⁠⁠⁠⁠ Monsters

Hosts: Josh Goddard & David Ingram

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://metalomicspodcast.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/metalomics/⁠⁠⁠