Skip to main content

Posts

Showing posts from October, 2015

Indy Theater Creates Gentrification

Economic analysis of NYC's current takeover by the 1%. It used to be the land of Patti Smith, but now she tells all the artists to find a new city. Joseph Steiglitz ( and his book :"Rewriting the Rules of the American Economy") is on Leonard Lopate's WNYC show right now.  The US has the highest level of income inequality, it's the rules & policies which are systematically creating these conditions.  He's saying that the idea of pulling yourself up by your bootstraps, the "American Dream" is dead.  And not because of the ideas we market to ourselves or the politics we cling to.  It happens little by little, because of laws and bills that are designed to protect Market Power (see the simple concept of "Perfect Competition"). The same concepts can apply to theater. " Ladies & Gentlemen, Lower Your Prices? "! The article discusses why theaters raise prices. They do, and scare away exactly the audiences they are looking f