The Cost Disease: Why Computers Get Cheaper and Health Care Doesn't (Paperback) (ISBN-13: 9780300198157)

Why are the costs of health care and higher education rising so dramatically? How can we keep them affordable for lower- and middle-income American families?

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.

Author: William J. Baumol
ISBN-10: 0300198159
ISBN-13: 9780300198157
Publisher: Yale University Press
Language: English
Published: 09/24/2013
Pages: 272
Format: Paperback
Weight: 0.65lbs
Size: 7.80h x 5.10w x 0.70d