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" First noted by the economist William Baumol in the 1960s, this phenomenon, now known as “Baumol’s cost disease,” basically says that prices in labor-intensive sectors such as healthcare and education increase faster than prices in sectors where most of the work can be more extensively automated. "

Rutger Bregman , Utopia for Realists: How We Can Build the Ideal World


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Rutger Bregman quote : First noted by the economist William Baumol in the 1960s, this phenomenon, now known as “Baumol’s cost disease,” basically says that prices in labor-intensive sectors such as healthcare and education increase faster than prices in sectors where most of the work can be more extensively automated.