Baumol’s Cost Disease: The Arts and Other Victims

Baumol’s model of cost disease stipulates that real costs in the arts, health care, and education escalate because these industries have little or no scope for using labor-saving technical progress. These facsimiles of 30 of William Baumol’s previously published works cover such subjects as cultural economics; the macroeconomics of the unbalanced growth model; empirical evidence for the cost disease; the impact of the disease on libraries, health care, and education; and implications for public policy concerning the arts. No subject index. Annotation c. by Book News, Inc., Portland, Or.