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It sounds like effenciencies in manufacturing sectors lead to more costly medical services, and ineffencies in manufacturing sectors lead to costly medical serv
by kelseyfrog 10mo ago
It 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