The Market Speaks, Mexico Edition

The NY Times has a video on the plight of Mexico City organ grinders.  Apparently, “[they] say they are losing popularity. They face more competition and a younger population that does not appreciate their music.”  

Based on the video below, I cannot imagine why young people aren’t appreciative.  Seriously though, that is some of the worst “music” I’ve heard.  I didn’t have high expectations when I clicked on the video, but it is much, much worse than imagined.

Mexico boasts an amazing pop and rap music scene so it is no wonder young people wouldn’t be too impressed with these guys.  The real question is how it was possible that this sound was ever popular (especially when the guy doesn’t even have a monkey)?  Thankfully the market has spoken–I just hope the government doesn’t step in to subsidize the lost art of organ grinding!

organgrinder

https://static01.nyt.com/video/players/offsite/index.html?videoId=100000004636530

Creative Destruction and Papier-Mache

The term “creative destruction” was coined by Joseph Schumpeter in the 1940s to describe the fact that capitalist economies are constantly creating new technologies, which in turn destroy older ones.  Or as the Schumpeter put it, “creative destruction describes the “process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one” (Wikipedia).

When teaching undergrads it is important to try to use real world examples to make concepts such as these relevant.  Here is one student (from the wonderful website Shit My Students Write),who sort of gets the picture, but in a hilariously weird way:

When you make a really great papier-mâché diorama but then a member of the bourgeoisie tells you its terrible so you destroy it.

Nailed it! I need to remember this example to wow the undergrads next time I teach Schumpeter.