The Cost Disease: Why Computers Get Cheaper and Health Care Doesn't

William J. Baumol,Monte Malach,Ariel Pablos-mendez,Lilian Gomory Wu,David De Ferranti,Hilary Tabish

ISBN 10: 0300198159 / ISBN 13: 9780300198157

Published by Yale University Press 2013-10-31, 2013

Seller Inventory # 6666-GRD-9780300198157

Synopsis:

Why are the costs of health care and higher education rising so dramatically? How can we keep them affordable for lower- and middle-income American families?

The exploding cost of health care in the United States is a source of widespread alarm. Similarly, the upward spiral of college tuition fees is cause for serious concern. In this concise and illuminating book, the well-known economist William J. Baumol explores the causes of these seemingly intractable problems and offers a surprisingly simple explanation. Baumol identifies the "cost disease" as a major source of rapidly rising costs in service sectors of the economy. Once we understand that disease, he explains, effective responses become apparent.

Baumol presents his analysis with characteristic clarity, tracing the fast-rising prices of health care and education in the United States and other major industrial nations, then examining the underlying causes, which have to do with the nature of providing labor-intensive services. The news is good, Baumol reassures us, because the nature of the disease is such that society will be able to afford the rising costs.

About the Author: William J. Baumol is professor of economics and academic director of the Berkley Center for Entrepreneurship and Innovation, New York University, and professor emeritus, Princeton University. He lives in New York City.

Bibliographic Details

Title: The Cost Disease: Why Computers Get Cheaper ...
Publisher: Yale University Press 2013-10-31
Publication Date: 2013
Binding: Paperback
Condition: New