Wednesday, December 29, 2010

Reloaded Links

Sunday, December 26, 2010

Desigualdad y el Efecto Superstar

Del NYTimes de ayer,
In 1982, the top 1 percent of pop stars, in terms of pay, raked in 26 percent of concert ticket revenue. In 2003, that top percentage of stars — names like Justin Timberlake, Christina Aguilera or 50 Cent — was taking 56 percent of the concert pie.
[...]

Pelé was not held back by the quality of his game, but by his relatively small revenue base. He might be the greatest of all time, but few people could pay to experience his greatness. In 1958, there were about 350,000 television sets in Brazil. The first television satellite, Telstar I, wasn’t launched until July 1962, too late for his World Cup debut.

By contrast, the 2010 FIFA World Cup in South Africa, in which Ronaldo played for Portugal, was broadcast in more than 200 countries, to an aggregate audience of over 25 billion. Some 700 million people watched the final alone. Ronaldo is not better then Pelé. He makes more money because his talent is broadcast to more people.

IF one loosens slightly the role played by technological progress, Dr. Rosen’s framework also does a pretty good job explaining the evolution of executive pay. In 1977, an elite chief executive working at one of America’s top 100 companies earned about 50 times the wage of its average worker. Three decades later, the nation’s best-paid C.E.O.’s made about 1,100 times the pay of a worker on the production line.