£15.26 for two hours' busking

Saturday, 22 August 2009 11:42

A while ago we posted Sounds from the Deep, an article about busking on the London Underground as an illustration of Ricardo's Law of Rent and the effects of taxation. A Financial Times journalist actually tried it recently and earned just £15.26 for two hours' busking at the foot of the escalators at Leicester Square

According to the article, musicians can busk free of charge once they have passed an audition for a licence. Unsurprisingly, there is a waiting list, which suggest that there is economic rent waiting to be collected. Link to article

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