Butter, Buildings, and Baumol’s Disease

economic news roundup and construction industry productivity
Comments (2)
  1. Rick Shapiro says:

    You might consider that another word for Baumol’s disease is social justice. How could it be bad that chuner’s wages rise along with everyone else’s? If butter becomes relatively more expensive, then it will become a luxury item, or become a larger element in the list of essentials, or succumb to Schumpeter. The proliferation of regulations in construction, though they are accompanied by labor-intensive reporting, also represents an aspect of social justice, in that it limits externalities that fall most heavily on people whose interests had previously been drowned out by corporate power.

    1. Elaine Schwartz says:

      Thanks Rick. I always appreciate your comments.

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