Logo
Unionpedia
Communication
Get it on Google Play
New! Download Unionpedia on your Androidâ„¢ device!
Install
Faster access than browser!
 

Baumol's cost disease

Index Baumol's cost disease

Baumol's cost disease (or the Baumol effect) is the rise of salaries in jobs that have experienced no increase of labor productivity, in response to rising salaries in other jobs that have experienced the labor productivity growth. [1]

18 relations: Classical economics, Classical music, Education, Essay, Ludwig van Beethoven, Multiple choice, Nursing, Paradox of toil, Performing arts, Public administration, Public service, Quaternary sector of the economy, Scantron Corporation, String quartet, Total factor productivity, William Baumol, William G. Bowen, Workforce productivity.

Classical economics

Classical economics or classical political economy (also known as liberal economics) is a school of thought in economics that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century.

New!!: Baumol's cost disease and Classical economics · See more »

Classical music

Classical music is art music produced or rooted in the traditions of Western culture, including both liturgical (religious) and secular music.

New!!: Baumol's cost disease and Classical music · See more »

Education

Education is the process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits.

New!!: Baumol's cost disease and Education · See more »

Essay

An essay is, generally, a piece of writing that gives the author's own argument — but the definition is vague, overlapping with those of a paper, an article, a pamphlet, and a short story.

New!!: Baumol's cost disease and Essay · See more »

Ludwig van Beethoven

Ludwig van Beethoven (baptised 17 December 1770Beethoven was baptised on 17 December. His date of birth was often given as 16 December and his family and associates celebrated his birthday on that date, and most scholars accept that he was born on 16 December; however there is no documentary record of his birth.26 March 1827) was a German composer and pianist.

New!!: Baumol's cost disease and Ludwig van Beethoven · See more »

Multiple choice

Multiple choice is a form of an objective assessment in which respondents are asked to select only correct answers out of the choices from a list.

New!!: Baumol's cost disease and Multiple choice · See more »

Nursing

Nursing is a profession within the health care sector focused on the care of individuals, families, and communities so they may attain, maintain, or recover optimal health and quality of life.

New!!: Baumol's cost disease and Nursing · See more »

Paradox of toil

The paradox of toil is the economic hypothesis that total employment will shrink if everybody wants to work more when "the short-term nominal interest rate is zero and there are deflationary pressures and output contraction".

New!!: Baumol's cost disease and Paradox of toil · See more »

Performing arts

Performing arts are a form of art in which artists use their voices or bodies, often in relation to other objects, to convey artistic expression.

New!!: Baumol's cost disease and Performing arts · See more »

Public administration

Public Administration is the implementation of government policy and also an academic discipline that studies this implementation and prepares civil servants for working in the public service.

New!!: Baumol's cost disease and Public administration · See more »

Public service

Public service is a service which is provided by government to people living within its jurisdiction, either directly (through the public sector) or by financing provision of services.

New!!: Baumol's cost disease and Public service · See more »

Quaternary sector of the economy

The quaternary sector of the economy is a way to describe a knowledge-based part of the economy, which typically includes services such as information technology, information-generation and -sharing, media, and research and development, as well as knowledge-based services like consultation, education, financial planning, blogging, and designing.

New!!: Baumol's cost disease and Quaternary sector of the economy · See more »

Scantron Corporation

Scantron Corporation is an American company based in Eagan, Minnesota.

New!!: Baumol's cost disease and Scantron Corporation · See more »

String quartet

A string quartet is a musical ensemble of four string players – two violin players, a viola player and a cellist – or a piece written to be performed by such a group.

New!!: Baumol's cost disease and String quartet · See more »

Total factor productivity

In economics, total-factor productivity (TFP), also called multi-factor productivity, is the portion of output not explained by traditionally measured inputs of labour and capital used in production.

New!!: Baumol's cost disease and Total factor productivity · See more »

William Baumol

William Jack Baumol (February 26, 1922 – May 4, 2017) was an American economist.

New!!: Baumol's cost disease and William Baumol · See more »

William G. Bowen

William Gordon Bowen (October 6, 1933October 20, 2016) was President Emeritus of The Andrew W. Mellon Foundation where he served as President from 1988 to 2006.

New!!: Baumol's cost disease and William G. Bowen · See more »

Workforce productivity

Workforce productivity is the amount of goods and services that a worker produces in a given amount of time.

New!!: Baumol's cost disease and Workforce productivity · See more »

Redirects here:

Baumol effect, Baumol s cost disease, Baumol's Disease, Baumol's disease, Cost disease.

References

[1] https://en.wikipedia.org/wiki/Baumol's_cost_disease

OutgoingIncoming
Hey! We are on Facebook now! »