Baumol’s Cost Disease Is Killing Me!
My Editor’s Choice post this time around is a blog/article that was just published a few days ago. It centers around Baumol’s curse. If you aren’t familiar with that term you will be after you read this article by Duncan Webb. And if you’re really into it you can find it discussed in eight different articles here on Polyphonic. Familiarity with the “curse” helps explain one aspect of the economic challenge facing orchestras today. Mr. Webb suggests that like death and taxes there is not much we can do to fix the problem, but he does go on to offer a couple of ways to live with it. Read it here.
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