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Healthcare and college are "Baumol cost disease": because they depend on skilled workers, much of that is the same as "American salaries are higher than in the
by pjc50 2mo ago
Healthcare and college are "Baumol cost disease": because they depend on skilled workers, much of that is the same as "American salaries are higher than in the rest of the world", and unlike manufacturing or software (+) you can't outsource it to lower-wage countries.
(+) there still seems to be a massive wage premium for "being physically in a San Francisco office" even if most of the work is being done by an AI, which cannot be sustainable
- sharts 2mo agoI dunno, telehealth with foreign doctors while maybe in-person nurses could lower costs substantially.
- sharemywin 2mo agobecause code is only a small part of software development. don't forget ping pong tables. lol. I'm both making a valid point and making fun of it too.
- porkpieshoe 2mo agoIf it was this simple, then high costs would be limited to the labor-driven portion of the bills. This is not the case.
- avadodin 2mo agoYou can make all sort of excuses but we literally felt bad for 1:1 exchange students paying 2k a month while we paid 2k a year. Their education was not 10x ours and their economy was only a few % over ours per capita.