Spreading the Benefits of Productivity Increases: Price Increases, Decreases, or Both? A Critique of Baumol on Subsidies to the Arts
Списание "Диалог, Vol. 4, 2006
14 Pages Posted: 28 Jul 2011
Date Written: 2006
This paper attempts to grapple with the market mechanism through which growth in one sector of the economy spreads to other sectors. It calls into question Baumol's argument for subsides to the arts and by extension, to other economic areas that have not enjoyed productivity increases.
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