Jake Auchincloss: “Cost disease, otherwise known as the Bommel effect…”

“And the way I've tried to frame this is, is cost disease. This is what I think the democratic economic agenda should be, is treating cost disease. Cost disease, otherwise known as the Bommel effect, describes industries that, because of low productivity growth and labor intensity, inflate faster than the overall economy. And a lot of times when people today talk about the problems in the American economy, they look at those sectors that have gotten very expensive.” (21:01–21:13)

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