Don Satz said:

>Subsidies/donations/grants are not part of a "pure" market, but pure
>markets are unfortunately a rarity.  Actually, there is a "subsidy" market;
>supply is based on the available monies held by government, business, and
>private individuals/institutions intent on transferring these funds to
>preferred sources.  Demand is made up of those organizations which search
>for subsidies.  This market, in itself, can be a fierce one with numerous
>outfits vying for limited dollars.

The term 'perfectly competitive' or 'pure' market was first used by Adam
Smith to indicate the most efficient allocation of economic resources.
Markets with any degree of market power (monopoly) on either side fail to
attain this efficient allocation, to the harm of all society.  I suspect
organizations, recording companies like "Names" because it does contribute
to market power (and profit).  (Buy a name it's a safer purchase, it will
be better, etc.)

The affect of all this is a re-distribution of income.  Paying the athletes
(or conductors) big salaries will attract fans (audience) and grow budgets,
etc.  How much is left for the vendors, ushers, musicians, etc? That amount
may or may not be larger.  What share these groups get of the 'pie' depends
on their economic power.  And around and around it goes.

The issue at hand is what does society want to do about it?

That is not an economic issue, but deals with the values of society.

Regards,

Tom Connor