Baumol's cost disease

So the cost per performance kept climbing.

Economists call this Baumol's cost disease, and the clearest way to see it is to look at what happened to prices over the last fifty years.

The things that got more productive, like electronics and computers, got cheaper, while the things that couldn't get more productive, like childcare, education, haircuts, healthcare, and legal services, kept getting more expensive.

These are all industries where the work is stubbornly human.