Economist Alex Tabarrok recently made an interesting post on Baumol's cost disease. The concept usually explained by noting that since it doesn't take any less time to perform a string quartet than it did when Beethoven wrote it, orchestras have no way to save money by taking advantage of advances in productivity and efficiency. Tabarrok ... Read more
SOURCE: Butts In The Seats at 12:12AM on June 13, 2019