"The Capitalism of Magic" - Economist Magazine

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http://www.economist.com/business/displ ... id=9825182

MAGIC has been called the second oldest professionand, like the oldest profession, it continues to thrive. In booming Las Vegas, for instance, David Copperfield and Penn & Teller continue to play to packed houses. Pamela Anderson, a former star of Baywatch, best known for attributes other than acting ability, has so enjoyed being the assistant in Hans Kloks new show, The Beauty of Magic, that she has reportedly overcome her fear of heights by performing in a levitation trick, and is considering launching her own casino, called, Planet Pammie.

But enough tabloid tittle-tattle. What interests The Economist is one important difference between the two venerable professions. This, to put it politely, is all about what exactly the beautiful assistant does during the tricks. Protection may be needed by the oldest profession, but not for its intellectual property (IP). In magic, by contrast, the pleasure derives largely from the customer's not knowing exactly what is going on. Keeping the IP secret is essential to the professions successand it is something that has been done remarkably well.

[Guest]

Thanks to the internet this situation is changing rapidly.

BTW Thomas Crowe published an article in Magic Magazine in 2004 on this topic.

And the author, Jacob, a magician who has been out of touch with the community since around 1999 has been brought into email contact with Thomas and may even join us here when he has a chance.