Faculty News
—
Prof. William Baumol's "cost disease" theory is highlighted
—
![The Gobe and Mail logo The Gobe and Mail logo](/sites/default/files/styles/192w_x_144h/public/assets/images/con_030719.jpg?h=cd55d432&itok=oEInMFIv)
Excerpt from The Globe and Mail -- "Baumol's cost disease – an economic theorem often proven empirically and named after the economist William Baumol – shows that wage gains always outstrip productivity improvements in the public sector. Baumol's cost disease poses a huge challenge for provincial governments, whose services – health, education, social services – are very labour-intensive."
Faculty News
—
![The Gobe and Mail logo The Gobe and Mail logo](/sites/default/files/styles/192w_x_144h/public/assets/images/con_030719.jpg?h=cd55d432&itok=oEInMFIv)
Excerpt from The Globe and Mail -- "Baumol's cost disease – an economic theorem often proven empirically and named after the economist William Baumol – shows that wage gains always outstrip productivity improvements in the public sector. Baumol's cost disease poses a huge challenge for provincial governments, whose services – health, education, social services – are very labour-intensive."