Economist Umair Haque considers the current crisis of the music industry in the light of microeconomic information and contract theory. He thereby reaches the conclusion that file-sharing is not to blame for the drop in profits but rather, the music industry’s loss of credibility – for which the industry itself is to blame – which subsequently led consumers to look for alternatives or perhaps, even to rebel. From there, Haque goes on to expound strategic solutions that seek to balance the interests of producers, consumers and those spinning the deals.
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