Baumol’s Cost Disease

Edited by Ruth Towse

in Books from Edward Elgar Publishing

Abstract: Baumol’s Cost Disease is the inevitable escalation of the real costs that occur in labour-intensive industries like the arts, health care and education. The labour costs in these industries tend to increase at the same rate as other industries, but their scope for utilizing labour-saving technical progress is either small or non-existent.

Keywords: Economics and Finance (search for similar items in EconPapers)
JEL-codes: D6 I3 (search for similar items in EconPapers)
Date: 1997
ISBN: 9781858985084
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