Economics in Broadway Songs: Entrepreneurship in Something Rotten
The Song "A Musical" Highlights Innovation!
How valuable are entrepreneurs? That's the lesson we explore in this video using the song "A Musical" from the musical Something Rotten. The Bottom brothers are in a competition against Williams Shakespeare in the 1590s and need something big. Their unique innovation is a musical.
What's great about this song is how it illustrates value creation. New products, like musicals were once upon a time, generate immense societal value beyond creators' gains. Millions (billions) worldwide love musical theatre and benefit from it. While some entrepreneurs become rich, for every $1 earned by an entrepreneur, there's $20 societal value from the product/service enjoyed. That is a great illustration of how entrepreneurs enrich society through innovation.
Description of musical Something Rotten from ChatGPT:
"Something Rotten!" is a comedic musical set in the Renaissance era that follows the Bottom brothers, Nick and Nigel, struggling to compete with the success of William Shakespeare. Frustrated by their lack of recognition in the theatrical world, they seek guidance from a soothsayer who foretells the future of theater—a musical! Determined to outshine Shakespeare, they embark on creating the world's first musical, encountering hilarious mishaps and madcap situations along the way. Filled with witty humor, catchy tunes, and playful references to numerous Broadway shows and Shakespearean works, "Something Rotten!" is a rollicking homage to the magic of theater and the pursuit of artistic innovation.
For more, check out the video: