{"id":4770,"date":"2020-05-11T16:23:57","date_gmt":"2020-05-11T08:23:57","guid":{"rendered":"http:\/\/blog.rchss.sinica.edu.tw\/wwchu\/?p=4770"},"modified":"2020-05-11T16:23:57","modified_gmt":"2020-05-11T08:23:57","slug":"diagnosing-william-baumols-cost-disease","status":"publish","type":"post","link":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/?p=4770","title":{"rendered":"Diagnosing William Baumol\u2019s cost disease"},"content":{"rendered":"<div>\n<div>\n<div>\n<h1><span style=\"font-family: 'Droid Sans', Arial, sans-serif;font-size: 14px\">MICHAEL MAIELLO\u00a0|\u00a0MAY 18, 2017 , Chicago Booth Review<\/span><\/h1>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/review.chicagobooth.edu\/economics\/2017\/article\/diagnosing-william-baumol-s-cost-disease\">https:\/\/review.chicagobooth.edu\/economics\/2017\/article\/diagnosing-william-baumol-s-cost-disease<\/a><\/p>\n<p>The effect now known as Baumol\u2019s Cost Disease is used to explain why prices for the services offered by people-dependent professions with low productivity growth\u2014such as (arguably) education, health care, and the arts\u2014keep going up, even though the amount of goods and services each worker in those industries generates hasn\u2019t necessarily done the same.<\/p>\n<p>\u201cProductivity and price trends are inversely related across industries. It jumps out at you when looking at the data.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MICHAEL MAIELLO\u00a0|\u00a0MAY 18, 2017 , Chicago Booth Review https:\/\/review.chicagobooth.edu\/economics\/2017\/article\/diagnosing-william-baumol-s-cost-disease The effect now known as Baumol\u2019s Cost Disease is used to explain why prices for the services offered by people-dependent professions with low productivity growth\u2014such as (arguably) education, health care, and the arts\u2014keep going up, even though the amount of goods and services each worker in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-4770","post","type-post","status-publish","format-standard","hentry","category-reflections"],"_links":{"self":[{"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/posts\/4770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4770"}],"version-history":[{"count":2,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/posts\/4770\/revisions"}],"predecessor-version":[{"id":4772,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=\/wp\/v2\/posts\/4770\/revisions\/4772"}],"wp:attachment":[{"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.rchss.sinica.edu.tw\/wwchu\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}