The Baumol fallacy, from an historian’s view
Time to hike up my trousers and wade into some intellectual flotsam. In my entry on the politics of Scott Walker's anti-unionism, there's a comment demi-thread about the Baumol "cost-disease" argument started by Glen McPhee that I want to bring into a main entry, because the fallacy embedded in it is similar to Tyler Cowen's argument […]