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It makes all electronics more expensive. This makes every service more expensive as well.
by bongodongobob 9mo ago
It makes all electronics more expensive. This makes every service more expensive as well.
- kelseyfrog 9mo agoIt sounds like effenciencies in manufacturing sectors lead to more costly medical services, and ineffencies in manufacturing sectors lead to costly medical services. Am I understanding correctly?
- krupan 9mo agoWho said efficiencies in manufacturing sectors lead to more costly medical services?
- kelseyfrog 9mo agoWilliam J. Baumol the namesake of the Baumol Effect[1]. Generally it is > the tendency for wages in jobs that have experienced little or no increase in labor productivity to rise in response to rising wages in other jobs that did experience high productivity growth Specifically, manufacturing sectors have increased productivity and service sectors haven't. 1. https://en.wikipedia.org/wiki/Baumol_effect https://en.wikipedia.org/wiki/Baumol_effect