630. On Broadway, Nobody Knows Nothing

by William Baumol

“Economist William Baumol's 1965 theory explains why labor-intensive industries like theater face inevitable cost increases as wages rise with economy-wide productivity gains.”

by Lin-Manuel Miranda

“Luis Miranda describes raising forty thousand dollars for his son Lin-Manuel's early musical through a backers audition, asking friends to contribute one thousand dollars each based purely on parental faith.”

“Failed Broadway productions like Legally Blonde can recoup investments through national tours, international productions, and high school licensing deals worth millions annually.”