The Cost Disease: Why Computers Get Cheaper and Health Care Doesn't (Hardcover)

The Cost Disease: Why Computers Get Cheaper and Health Care Doesn't Cover Image
By William J. Baumol, David De Farranti (Contribution by), Monte Malach (Contribution by)
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The exploding cost of health care in the United States is a source of widespread alarm. Similarly, the upward spiral of college tuition fees is cause for serious concern. In this concise and illuminating book, the well-known economist William J. Baumol explores the causes of these seemingly intractable problems and offers a surprisingly simple explanation. Baumol identifies the "cost disease" as a major source of rapidly rising costs in service sectors of the economy. Once we understand that disease, he explains, effective responses become apparent.

Baumol presents his analysis with characteristic clarity, tracing the fast-rising prices of health care and education in the United States and other major industrial nations, then examining the underlying causes, which have to do with the nature of providing labor-intensive services. The news is good, Baumol reassures us, because the nature of the disease is such that society will be able to afford the rising costs.

About the Author

William J. Baumol is professor of economics and academic director of the Berkley Center for Entrepreneurship and Innovation, New York University, and professor emeritus, Princeton University. He lives in New York City.
Product Details
ISBN: 9780300179286
ISBN-10: 0300179286
Publisher: Yale University Press
Publication Date: September 25th, 2012
Pages: 249
Language: English