BLOG POST #5
The economic principle I’m exploring is “Institutions are the “rules of the game” that influence choices”
My research question to help me study the economic principle is “Is there a better alternative to obtaining music than free streaming services like Spotify?”
The article/video/etc published in 20 Something Finance titled “The Cheapest Way to Listen to Music, Uninterrupted” demonstrates this economic principle because it shows
First, You should use free streaming apps like Spotify and Pandora to discover new music with their radio features and ability to help you find new songs that you will love and enjoy for free. These apps are good tools if you don’t know exactly what you are looking for when you are searching for or listening to music.
Second, You are better off purchasing any songs that you love and like to be able to hear whenever you want. This way you only have to pay for the song once and then owning the rights to play it whenever you please instead of constantly having to pay a monthly contract with Spotify to just rent the song.
Third, The Author, G.E. Miller, says that their strategy for getting songs involves utilizing both Spotify's streaming services and the ability to purchase songs. Their method is to build up a catalog of songs that you like and can listen to randomly for free on Spotify. Any songs that remain on their list for an extended period of time without being taken out or replaced are bought so that they can listen to them whenever they want to. I Think this is a super effective way to go about obtaining your music because you get to utilize the free streaming from Spotify, learn what songs you want to buy so that you can own them and listen to them whenever, and the method is perfectly legal and doesn’t involve illegally downloading the music and robbing the producers.

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