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I welcome this. Anything that makes consumer electronics more expensive acts counter to the Baumol Effect. How scarce does memory have to get before it makes h
by kelseyfrog 10mo ago
I welcome this. Anything that makes consumer electronics more expensive acts counter to the Baumol Effect.
How scarce does memory have to get before it makes health care half as expensive?
- Avicebron 10mo agoWhere do you think the IT costs for doctor's workstations are going to be redirected?
- kelseyfrog 10mo agoI always thought it was more about differences in productivity between sectors. If the Baumol effect made service sector wages increase, would wouldn't ineffencies do the inverse?
- bongodongobob 10mo agoIt makes all electronics more expensive. This makes every service more expensive as well.
- kelseyfrog 10mo agoIt sounds like effenciencies in manufacturing sectors lead to more costly medical services, and ineffencies in manufacturing sectors lead to costly medical services. Am I understanding correctly?
- krupan 10mo agoWho said efficiencies in manufacturing sectors lead to more costly medical services?
- kelseyfrog 10mo agoWilliam J. Baumol the namesake of the Baumol Effect[1]. Generally it is > the tendency for wages in jobs that have experienced little or no increase in labor productivity to rise in response to rising wages in other jobs that did experience high productivity growth Specifically, manufacturing sectors have increased productivity and service sectors haven't. 1. https://en.wikipedia.org/wiki/Baumol_effect https://en.wikipedia.org/wiki/Baumol_effect