Baumol’s cost disease might be a true phenomenon, but it makes artificial constraints not he supply of labor all the more insidious. The cost of a doctor or nan

Baumol’s cost disease might be a true phenomenon, but it makes artificial constraints not he supply of labor all the more insidious. The cost of a doctor or nanny is going up, but Congress + the AMA artificially limit the amount of medical residencies. That’s one small reason why the medical industry is broken. There are also many regulations that serve to increase the average price of a nanny. Musicians, on the other hand, were subject to intense technological disruption. They offer a fundamentally different product with different methods of distribution. I don’t think they are a good illustration of Baumol’s cost disease.