Marketplace is a program on National Public Radio, usually broadcast out of California. This week, they’ve been doing their shows from New York City and there was an interesting segment on last night’s edition.
It caught my attention mainly because of my interest in music. The commentator, Ian Svenonius, described how trends in rock music have been influenced generally by the economy and specifically due to Alan Greenspan’s actions to move the economy.
For example, here is one point he made on the show. The early nineties saw the rise of “garage bands” who later made it big. These bands had a big sound, very heavy with drumsets. In the booming economy at that time, families in and around New York had garages in which to foster these bands.
As the economy has tightened, underground music in New York has turned to a more personal style, where drumsets and large garages are unnecessary. The story obviously explains the connection much better than I can at the moment, so listen when you get a chance.
Updated December 20, 2011 and originally published October 27, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.