Health care, education and the cost disease: A looming crisis for public choice

@article{Baumol1993HealthCE,
  title={Health care, education and the cost disease: A looming crisis for public choice},
  author={William J. Baumol},
  journal={Public Choice},
  year={1993},
  volume={77},
  pages={17-28}
}
  • W. Baumol
  • Published 1 September 1993
  • Economics
  • Public Choice
An economic specter haunts the democratic governments of the world’s most prosperous economies. The rising cost of health care and education casts a shadow over virtually every election, while increasing costs of other services play a part in the growth of the homeless population and the deteriorating sanitation of city streets. It will be shown here that both an explanation and a solution in principle are available. However, while the solution is, in one sense, simple and straightforward, in… 

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