Improved Efficiency Through Technology
I was recently reading an article in the October, 2002 edition of Harmony by Douglas Dempster that talked about Baumol’s Curse. One part in particular that struck me was this excerpt: “[Economists] William Baumol and William Bowen considered all “service industries,” (e.g., education and food preparation, as well as the performing arts) as opposed to manufacturing, to be vulnerable to the Curse. They single out the performing arts as the very …