Michael Jackson, the Music Industry & the Zombieconomy

Umair Haque on Michael Jackson and the Zombieconomy:

"If the world's biggest pop star only made $12 million a year from his [sales of] recordings, why would anyone make serious music? Where did the rest of the money go? Why, straight into record labels' pockets. Did they make better music with it?...Why can't a resource as scarce as the King of Pop capture more value?"

I find the "serious music" question a bit odd but Haque does make some interesting points in this piece on the failure of the music industry to create value.