Re:It’s Time to Build
by projektfu on Sunday April 19, 2020 @12:51AM
(#22913603)
Schools and hospitals also suffer from Baumol's cost disease. As the production of computers, TVs, food, clothing, and other items gets more efficient, the relative cost of industries with low productivity growth skyrockets. Also including symphonies, theater companies, etc., and this leads to them becoming unaffordable in the presence of substitute goods, like movie tickets and recorded music.
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