Posts Tagged ‘productivity divergence’

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    Healthcare and Baumol’s Disease

    Sep 11, 11 • 209 Views • Businesses, Demand, Supply, and Markets, Developing Economies, Government, Households, Innovation, International Trade and Finance, Labor, Macroeconomic Measurement, Thinking Economically1 Comment

    Asked why healthcare is relatively expensive while cell phones are not, you could answer, “Baumol’s Disease.” Described by New Yorker columnist James Surowiecki, to play Mozart’s String Quartet in G minor in 1787 and now, we need 2