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The Cost Disease

Why Computers Get Cheaper and Health Care Doesn't

The Cost Disease( )
Author: Baumol, William J.
Contribution by: De Ferranti, David
Malach, Monte
Tabish, Hilary
Wu, Lilian Gomory
Pablos-Méndez, Ariel
ISBN:978-0-300-19815-7
Publication Date:Sep 2013
Publisher:Yale University Press
Book Format:Paperback
List Price:USD $25.00
Book Description:

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...
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Book Details
Pages:288
Detailed Subjects: Medical / Health Care Delivery
Medical / Practice Management & Reimbursement
Physical Dimensions (W X L X H):5.187 x 7.839 x 0.685 Inches
Book Weight:0.656 Pounds
Author Biography
Baumol, William J. (Author)
William Jack Baumol was born in the South Bronx, New York on February 22, 1922. He served in the Army during World War II and got a job at the Agriculture Department, where he worked on allocating grain supplies to starving countries. He graduated from City College and enrolled in the London School of Economics in 1947, after initially being rejected. Less than six weeks after school started, he was hired to become a member of the faculty. He taught at Princeton University from 1949 until 1970 and then taught at New York University from 1971 until his retirement in 2014.

As an economist, he identified Baumol's cost disease, which explains why the cost of services, like haircuts and college educations, rises faster than the cost of goods, like T-shirts. He published dozens of books, hundreds of papers, and several congressional testimonies on entrepreneurs, environmental policy, corporate finance, stock sales, the economics of Broadway theaters, inflation, and competition and monopolies. He died on May 4, 2017 at the age of 95.

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