4 ms·

https://en.wikipedia.org/wiki/Baumol_effect https://en.wikipedia.org/wiki/Baumol_effect Any sector that's resistant to productivity growth is liable to become

by gruez 2mo ago

https://en.wikipedia.org/wiki/Baumol_effect https://en.wikipedia.org/wiki/Baumol_effect Any sector that's resistant to productivity growth is liable to become bigger and bigger part of the economy.

notfromhere 2mo ago
yeah but the size of the us healthcare sector (like 18%) is a policy choice, other developed countries have theirs at 10-12%. U.S. healthcare is a giant predatory clusterfuck and seems impossible to meaningfully reform.
- eru 2mo ago
  Singapore has more like 5.5% or so. (That's total expenditure: public plus private added up.)
- francisofascii 2mo ago
  Like the US Justice system, the best advice to give is to avoid the US Healthcare system as much as possible.
  - deleted 2mo ago
    [deleted]
- rangestransform 2mo ago
  You can’t reform it because of the immense job loss that would result from an efficiently run public healthcare system. Think about all the useless paper pushers that are allowed to vote
maerF0x0 2mo ago
I've seen on youtube how people said a major reason housing is a big employer and housing has not fallen in price is due to their industry's attitude and resistance to introducing technological advancements. in fairness also regulation makes it hard when it specificies the solutions not the parameters (just to illustrate the idea not an actual rule: you must have X thickness of PVC versus your pipe must withstand X pressure)
- lotsofpulp 2mo ago
  Demonstrating the waste of time that 99.9% of Youtube videos offer. Construction has seen tremendous technological advances, from materials to tools, even down to software that monitors workplace events. All of these have led to conditions where it is expected for an entire house to go from start to finish in 100 days. A house with very high standards of plumbing, electrical, hvac, insulation, and other essentials compared to previous generations.
  - maerF0x0 2mo ago
    And yet so much stick built instead of manufactured, for example. And I agree that the standards have been rising such as better R-values, car charging, AC, cat5 etc.
    - lotsofpulp 2mo ago
      Because stick built is superior to manufactured for 95% of situations and buyers. There is a reason why it’s so ubiquitous. The US is blessed to have access to cheap sticks.
- pfdietz 2mo ago
  And also when doctors are expected to provide the best treatments or else they can be sued for malpractice.

by gruez 2mo ago

https://en.wikipedia.org/wiki/Baumol_effect https://en.wikipedia.org/wiki/Baumol_effect Any sector that's resistant to productivity growth is liable to become bigger and bigger part of the economy.

notfromhere 2mo ago

yeah but the size of the us healthcare sector (like 18%) is a policy choice, other developed countries have theirs at 10-12%. U.S. healthcare is a giant predatory clusterfuck and seems impossible to meaningfully reform.

eru 2mo ago
Singapore has more like 5.5% or so. (That's total expenditure: public plus private added up.)
francisofascii 2mo ago
Like the US Justice system, the best advice to give is to avoid the US Healthcare system as much as possible.
- deleted 2mo ago
  [deleted]
rangestransform 2mo ago
You can’t reform it because of the immense job loss that would result from an efficiently run public healthcare system. Think about all the useless paper pushers that are allowed to vote

maerF0x0 2mo ago

I've seen on youtube how people said a major reason housing is a big employer and housing has not fallen in price is due to their industry's attitude and resistance to introducing technological advancements. in fairness also regulation makes it hard when it specificies the solutions not the parameters (just to illustrate the idea not an actual rule: you must have X thickness of PVC versus your pipe must withstand X pressure)

lotsofpulp 2mo ago
Demonstrating the waste of time that 99.9% of Youtube videos offer. Construction has seen tremendous technological advances, from materials to tools, even down to software that monitors workplace events. All of these have led to conditions where it is expected for an entire house to go from start to finish in 100 days. A house with very high standards of plumbing, electrical, hvac, insulation, and other essentials compared to previous generations.
- maerF0x0 2mo ago
  And yet so much stick built instead of manufactured, for example. And I agree that the standards have been rising such as better R-values, car charging, AC, cat5 etc.
  - lotsofpulp 2mo ago
    Because stick built is superior to manufactured for 95% of situations and buyers. There is a reason why it’s so ubiquitous. The US is blessed to have access to cheap sticks.
pfdietz 2mo ago
And also when doctors are expected to provide the best treatments or else they can be sued for malpractice.