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A comment on Baumol Effect. Parent comment

Re:Baumol Effect by asdasdasdas5453 on Saturday October 17, 2020 @05:36PM (#24813577)
"The phenomenon was described by William J. Baumol and William G. Bowen in the 1960s."

I imagine streaming services were not a thing back then.

Also you make fair points in your comments but you confuse the example for the argument. Replace 'String Quartet' by 'waiter' or 'child minder' if you prefer.

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Re:Baumol Effect by ptsneves on Saturday October 17, 2020 @06:05PM (#24813772)
I think the issue is that you measure productivity as in quantitative physical output instead of in value as driven by supply and demand. Absolute value increases due to inflation even though the supply/demand ratio is the same.
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Re:Baumol Effect by JumpCrisscross on Saturday October 17, 2020 @11:22PM (#24815295)
> Absolute value increases due to inflation

For a meaningless definition of absolute, where it coïncides with “nominal,” yes.

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Re:Baumol Effect by jldugger on Saturday October 17, 2020 @11:38PM (#24815362)
Well, there was a fairly huge streaming service called FM Radio that had a huge audience at the time.
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