Baumol Quotes & Sayings
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Top Baumol Quotes
There are many reasons for increased spending on health care, including an aging population, technological change, perverse incentives, supply-induced demand, and fear of malpractice litigation. The broader point is that the basic underlying problem does not entail misbehavior or incompetence but rather stems from the nature of the provision of labor-intensive services. — William J. Baumol