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As someone under a ton of debt, I'd like to know the answer to your question too. For a fun-time experiement, plot college cost vs. : minimum wage inflation h
by pnathan 15y ago
As someone under a ton of debt, I'd like to know the answer to your question too.
For a fun-time experiement, plot college cost vs. :
minimum wage
inflation
health care
since the 70s or so.
Right around 1980ish, health care and college costs started heading for the roof relative to inflation.
edit: I haven't worked the math to differentiate between average cost of ivy league schools and average cost of state schools. I think the current difference sits at 4x or so for list price.
- yummyfajitas 15y agoRight around 1980ish, health care and college costs started heading for the roof relative to inflation. Interesting - right around the time computers started making business processes way more efficient, a few areas unaffected by computers started skyrocketing in cost (relative to inflation). I wonder what could be causing this phenomenon? http://en.wikipedia.org/wiki/Baumols_cost_disease http://en.wikipedia.org/wiki/Baumols_cost_disease
- ZackOfAllTrades 15y agoClick this: http://en.wikipedia.org/wiki/Baumols_cost_disease http://en.wikipedia.org/wiki/Baumols_cost_disease A ' was forgotten
- awa 15y ago404?
- ZackOfAllTrades 15y agoThe hyperlink is taking out the ' for some reason. Not sure why exactly.
- mchouza 15y agoIt must be some protection against code injection. Here is the link in a different format, avoiding the explicit single quote: http://en.wikipedia.org/wiki/Baumol%27s_cost_disease http://en.wikipedia.org/wiki/Baumol%27s_cost_disease
- DanI-S 15y agoAre you seriously suggesting that the costs of healthcare provision and education are unaffected by computers? I'd be surprised if there wasn't somewhere you can do an online degree in the application of IT for cost savings in healthcare.
- yummyfajitas 15y agoSo far, I don't think the computing revolution has significantly affected healthcare or educational productivity. Until we start replacing teachers with Khan or similar products, productivity is capped at # of students=~30 x number of teachers. Same for medicine.
- william42 15y agoBoth this and the other link aren't working, try this: http://en.wikipedia.org/wiki/Baumol_effect http://en.wikipedia.org/wiki/Baumol_effect