"In economics, the Baumol effect, also known as Baumol's cost disease, first described by William J. Baumol and William G. Bowen in the 1960s, is the tendency for wages in jobs that have experienced little or no increase in labor productivity to rise in response to rising wages in other jobs that did experience high productivity growth."
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Maes-Garreau law
"The Maes–Garreau law is the statement that 'most favorable predictions about future technology will fall within the Maes–Garreau point', defined as 'the latest possible date a prediction can come true and still remain in the lifetime of the person making it'.[1] Specifically, it relates to predictions of a technological singularity or other radical future technologies.[1]" -Wikipedia contributors, "Maes–Garreau law," Wikipedia, The … Continue reading Maes-Garreau law
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