3 ms·
Scott loves attributing increasing prices to Baumol's cost disease, but I'm not sure I've ever seen him do the work of establishing that it's actually what's ha
by twic 4y ago
Scott loves attributing increasing prices to Baumol's cost disease, but I'm not sure I've ever seen him do the work of establishing that it's actually what's happened.
> If stonemasonry is a low-tech industry, and new high-tech industries are arising all around it, stonemason wages could get prohibitively high (compared to everything else) until nobody wants to hire them anymore. This would create pressure for architectural styles that require as little masonry (or, generalized, human labor) as possible.
Stonemasons make about £20 an hour:
https://uk.indeed.com/career/stonemason/salaries https://uk.indeed.com/career/stonemason/salaries
More than an unskilled labourer, but not even twice as much.
- zozbot234 4y agoBaumol's cost disease is about wages of irreplaceable labor in general. It applies to stonemasonry as much as, e.g. haircuts.