Abstract
With the growth of economic prosperity, the demise of feudalism, and the weakening of Western religious institutions, markets for music have been transformed radically. By the 19th century, freelance composition and performance endeavours outweighed the employment of musicians by churches and noble courts. Further changes came from the invention of electrical and then electronic means of recording and disseminating music. The emergence of copyright for musical works strengthened economic incentives for the composition of music.
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Scherer, F.M. (2018). Music Markets, Economics of. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1993
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DOI: https://doi.org/10.1057/978-1-349-95189-5_1993
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