With the amount of people listening to Music Players at dangerously high levels, a study was undetaken by the National Institute for Physiological Sciences. Results suggested that people who listen to loud music for extended periods of time had difficulty discriminating between sounds. These neurophysiological changes burdens the nerves of the brain and auditory system and can cause a decline in ones hearing ability.
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http://www.sciencedaily.com/releases/2011/03/110309102150.htm