"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: labor
Those That Leave Arizona
"Arizona Department of Corrections Director David Shinn said Arizona communities would “collapse” without cheap prison labor, during testimony before the Joint Legislative Budget Committee Thursday."-Jimmy Jenkins, "Arizona communities would 'collapse' without cheap prison labor, Corrections director says." azcentral.com. July 14, 2022 Reminds me of Ursula K. Le Guin's story The Ones Who Walk Away from Omelas. Let's … Continue reading Those That Leave Arizona
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