There's no limit to how much a house in San Francisco can cost. There is no limit to how much heart surgery in any hospital can cost. There's no limit to what a four-year college degree can cost; it can potentially cost infinite because the government will just keep subsidizing it ... It's obvious what we need to do. We need to technologically disr... See more

basics. The economy, whether in Europe or the US, is an enormous collection of arrangements and institutions and technologies and human actions, buying and selling and investing and exploring and strategizing. It’s a huge hive of activity, where the individual behavior of agents—banks, consumers, producers, government departments—leads to aggregate

... See more

Baumol’s cost disease to include any sector of the economy where demand is inelastic (goods and services that most consider “essential), and supply/productivity is naturally and/or artificially restricted. With this expanded definition, four sectors of the economy stand out as afflicted by cost disease: healthcare, higher education, housing, and ch

... See more