For the American Prospect, Paul Starr documents the collapse of cultural affordability under Baumol, pointing out that “public elementary and secondary education, public libraries, land grant colleges with low tuition, and the 20th century’s mass media—including free, over-the-air radio and television” used to be... free. Or at least heavily... See more

Baumol Effect, which means, “We’ll spend more on what doesn’t get more productive.