Economist:William Baumol: Difference between revisions
Added 3 additional quotes to William Baumol |
Convert citations to Wikipedia reference style with <ref> tags |
||
| Line 10: | Line 10: | ||
=== On Productivity Paradox in Digital Age === | === 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 === | === 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> | |||
== References == | |||
<references /> | |||
[[Category:Economist]] | [[Category:Economist]] | ||
| Line 24: | Line 26: | ||
=== On Creative Destruction in AI Era === | === 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 === | === 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 === | === 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> | |||
Revision as of 20:39, 12 August 2025
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."[1]
On Labor Market Disruption from Automation
"Productivity growth in personal services is inherently limited because they require human interaction."[2]
References
Additional Notable Quotes
On Creative Destruction in AI Era
"Innovation is the defining characteristic of entrepreneurship."[1]
On Productivity Paradox in Digital Age
"The cost disease is real and unavoidable in labor-intensive services."[2]
On Network Effects and Platform Monopolies
"Oligopolistic competition drives innovation more than perfect competition."[3]