Music In The Credit Crunch

by David Cross on 10.01.09

What created Rock‘n’roll? – A generation of rich teenagers able purchase an identity because of the economic boom of the 1950s.

In recent times, however, it seems a failing economy creates better music. Does that mean we should expect the best?

In an era of chronic economic gloom, punk emerged – a reaction against the misery of the 70s.

Post-punk arrived on the scene shortly after, during the hardships of the early Thatcher years. A wave of new bands marked an exciting time for music. Joy Division, ABC and the Human League are just examples of this craze. The Specials and the Beat was a political response and the Associates represented rebellion.

It is much harder to work out the defining moment of the 1980s boom period. Yet the recession of the late-80s arrived brought the quality of music back to life. This era is symbolised by Manic Street Preachers, Radiohead, Orbital, Massive Attack, the Orb, and My Bloody Valentine, among others.

Money does not seem to help the music industry. Just look at the era of Britpop – marked by bands like Oasis – when indie guitar music reverted to a strictly retrograde style and has sounded pretty much the same since.

Over the 16 years of sustained economic prosperity that we have enjoyed since the mid-90s, mainstream music has gone into a steady decline, culminating in the nineties, perhaps the most unremarkable musical decade since records began.

In all fairness, the 21st century has seen the some great artists – The Kooks, The Music, The Libertines and a whole host of others. But they lack that certain spark that makes musicians appealing.

We are now in an economic slump. As we come to terms with this reality, what are the repercussions? Will there be a counter-cultural reaction and in what guise will it appear?

Angry, thrashy, guitar-based music (post-post-punk) is too obvious.
Will there be a wave of the “neo-gothic” – angry and strange with a “haunting” and dissonant mood.

Will guitar music be less samey and pick up where My Bloody Valentine left off?
All these things seem much more realistic now.