No, it’s not a new plague. Rather, it’s a little-known economics thesis that explains why uneven productivity gains in different sectors can have a huge impact on everything from consumer spending to government deficits. The latter is the nastiest side effect.
Continue reading America’s Economic Malady: A Bad Case of ‘Baumol’s Disease’
America’s Economic Malady: A Bad Case of ‘Baumol’s Disease’ originally appeared on DailyFinance on Sat, 11 Dec 2010 08:00:00.
Filed Under: Columns, Economy, Health Care, Taxes