"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."
Tag: economics
The ABC of Contemporary Capital by David Harvey
https://www.youtube.com/watch?v=gVtHfFRStSk 1 of 13 Presentations on the ideas of Marxism. "As a part of this course, I’m sharing rough drafts of pieces of a manuscript I am working on, a sort of textbook on Marx’s political economy. I’m experimenting with crowd sourcing the revision process." http://davidharvey.org/2022/01/new-course-the-abc-of-contemporary-capital/ I've talked about Hypothes.is for annotating in the past. I … Continue reading The ABC of Contemporary Capital by David Harvey
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