Chicago Tribune Article: "Fleetwood Mac, Revisited"

[strandinthewind]

Wow - this thread certainly has become interesting!!!!!!

I have said before and will always say - the correct price for anything that is non-essential to human life is what the market is willing to pay. In this case, the "market" for a FM concert is most of us fans and "we" apparently are willing to pay the asked price because the concerts on this tour are either sold out or close to it. In fact, most statistical models would indicate they could have charged 20% more, which is $150, for the same seats and left the other lesser priced seats the same price and gotten the same result in the end. So, FM clearly has not gotten the price of the tickets too expensive from a solely economic point of view.

A couple of people have argued that this is too greedy and have asserted a moral argument here. I, however, am unsure there is a significant moral point of view here (e.g. no one will starve, die, etc., if they do not see FM in concert). Leaving my apparent love for the band and my incessant concert going ( ) aside, FM clearly is an optional product in that not being able to see them live is not like being unable to afford food, water, etc. So, it is sort of like not being able to buy a $500 Versace belt when you cannot afford to see FM live. Is Versace immoral for charging $500 for a belt? I say no, they are not. In fact, I think if someone wants to pay $500 for a belt, so be it, despite my personal views on the subject. Remember, freedom of choice must work both ways to work at all (i.e. who am I to tell anyone how to spend their disposable income? ). Moreover, companies like Versace, Prada, etc., obviously have found a huge market that is more than willing and apparently able to pay for their non-essential services. Are they immoral for this? I say no. Are they greedy? I again say no because people are willingly paying for their craft, which can also be defined as art, even though I amy not like some of it, etc. Like FM, no one is forcing anyone to buy their non-essential product.

Having said that, does it suck if you cannot afford a $500 Versace belt and really, really want one. Yes, it does. Moreover, at what level does the greed stop? I am sure there are some people who would say FM is being greedy at $60 at ticket. Therein lies the rub.

P.S. I LOVE economic arguments, perhaps because in the end there usually is no one correct answer