Baumol effect
(en)
(aka Baumol's cost disease) 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
Historically this has meant that measured productivity has grown more slowly in public services than in other parts of the economy--the so-called 'Baumol effect'
notable
7 years, 3 months ago