The Cost Disease
Why Computers Get Cheaper and Health Care Doesn't
William J. Baumol|Monte Malach|Ariel Pablos-Mendez|Lillian Gomory Wu
The book explores the economic phenomenon where services like healthcare and education become increasingly expensive relative to goods like electronics, attributing this to differing productivity growth rates across sectors. It argues that sectors with slower productivity growth, often those requiring personal interaction, face rising costs as they compete for labor with more productive industries, leading to what is termed the "cost disease."
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