Editing Economist:William Baumol

{{DISPLAYTITLE:William Baumol}}
= William Baumol =

== Biography ==
American economist (1922-2017), known for Baumol's cost disease theory.

== School of Thought ==
Microeconomics

== Notable Quotes ==

=== On Productivity Paradox in Digital Age ===
"In the long run, the costs of education, health care, and other personal services will rise relative to manufactured goods."<ref name="ref_2012_p18_1">William Baumol, ''The Cost Disease'' (2012), p. 18, Yale University Press</ref>
=== On Labor Market Disruption from Automation ===
"Productivity growth in personal services is inherently limited because they require human interaction."<ref name="ref_1966_p164_1">William Baumol, ''Performing Arts: The Economic Dilemma'' (1966), p. 164, Twentieth Century Fund</ref>
=== On Creative Destruction in AI Era ===
"Innovation is the defining characteristic of entrepreneurship."<ref name="ref_2002_p1_1">William Baumol, ''The Free-Market Innovation Machine'' (2002), p. 1, Princeton University Press</ref>
=== On Productivity Paradox in Digital Age ===
"The cost disease is real and unavoidable in labor-intensive services."<ref name="ref_2012_p45_1">William Baumol, ''The Cost Disease'' (2012), p. 45, Yale University Press</ref>
=== On Network Effects and Platform Monopolies ===
"Oligopolistic competition drives innovation more than perfect competition."<ref name="ref_2002_p156_1">William Baumol, ''The Free-Market Innovation Machine'' (2002), p. 156, Princeton University Press</ref>

== References ==
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[[Category:Economist]]
[[Category:Microeconomics]]