Varun Ganapathi, Ph.D. is co-founder & CTO at AKASA. Varun's two previous AI companies were acquired by Google and Udacity. For anyone who isn’t an economist, it can be challenging to make sense of ...

Education has long suffered from what economists term “Baumol’s cost disease,” a tendency for costs to rise faster than general inflation due to stagnant productivity in labor-intensive sectors ...

Baumol, W. J. (1985). Productivity policy and the service sector. In R. P. Inman (ed.) Managing the service economy: prospects and problems. Cambridge: Cambridge ...

Get any of our free daily email newsletters — news headlines, opinion, e-edition, obituaries and more. WASHINGTON — Although William J. Baumol, who recently died at 95, was not widely known beyond the ...

This is a lovely little example of a standard economic model in action. Well, I think it's a lovely little example and as I'm the one doing the writing that's what we'll call it. Raghuram Rajan, the ...

When news breaks, you need to understand what actually matters — and what to do about it. At Vox, our mission to help you make sense of the world has never been more vital. But we can’t do it on our ...

There is a maxim in economics that increases in worker productivity tend to result in higher wages for workers. It makes some intuitive sense — if workers produce more goods per hour, thanks to a new ...

Although William J. Baumol, who recently died at 95, was not widely known beyond the ranks of economists, all Americans are living with, and policymakers are struggling with, "Baumol's disease." It is ...