Economic deconstructions of rock songs

First comes a quotation from the lyrics, then an analysis, for instance:

"From the Monongaleh valley
To the Mesabi iron range
To the coal mines of Appalacchia
The story’s always the same
Seven-hundred tons of metal a day
Now sir you tell me the world’s changed
Once I made you rich enough
Rich enough to forget my name"

This excerpt from Bruce Springsteen’s song "Youngstown" suggests that
he is owed something for making the plant owners rich. According to
economists Paul Gomme and Peter Rupert,
labor’s share of value-added in the nonfinancial corporate sector is
around 74%. Are these perspectives at odds with one another? Please
explain.

Here is the blog, an offshoot from Division of Labor.  Here is a discussion of "Rock Island Line."  Here is George Harrison’s "Taxman."  Thanks to Dan Klein for the pointer.

Comments

Comments for this post are closed