Baumol effect
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Baumol effect - Wikipedia Jump to content From Wikipedia, the free encyclopedia Rise of salaries in jobs that have seen little rise of productivity As the Baumol effect predicts, between 1998 and 2018, services became more expensive while many manufactured goods became cheaper. Note the modest increase in average wages in the middle. In economics , the Baumol effect , or Baumol's cost disease , first described by William J. Baumol and William G. Bowen in the 1960s, is the tendency for wages in jobs that have experienced little or no increase in labor productivity to rise in response to rising
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