Posts Tagged ‘Robert Smith’

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Robert Smith “Violently Disagrees” with Basic Economics

February 28, 2009

M~ SPAIN-BENICASIM-FIB 2005

Robert Smith took a brief hiatus from his normal day of aging badly, threating to break up the band and shopping for eyeliner to blast Radiohead’s pay-what-you-want experiment for “In Rainbows.” It’s not really too surprising to hear legacy acts complaining about the internet and people in general, but Smith’s comments stand out for contradicting one of the most basic economic truths (emphasis mine):

“You can’t allow other people to put a price on what you do, otherwise you don’t consider what you do to have any value at all and that’s nonsense.

“If I put a value on my music and no one’s prepared to pay that, then more fool me, but the idea that the value is created by the consumer is an idiot plan, it can’t work.”

That is the only way that value is created. By the consumers. (Note: value can be skewed by protectionism, subsidies, price fixing, etc.)

He also seems to have forgotten his previous tiff with iTunes, in which he complained that the prices were too high.

I guess any press is good press when your band peaked 20 years ago.

-CLT

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