See The Baumol Effect by Alex Tabarrok [1]: > After looking at education and health care and doing a statistical analysis covering 139 industries, Helland and

See The Baumol Effect by Alex Tabarrok [1]: > After looking at education and health care and doing a statistical analysis covering 139 industries, Helland and I conclude that a big factor in price increases over time in the rising price of skilled labor. The interesting question, in my mind, is why the United States is an outlier compared to other advanced nation states. [1] https://marginalrevolution.com/marginalrevolution/2019/05/the-baumol-effect.html https://marginalrevolution.com/marginalrevolution/2019/05/th...