By Kyle | September 23, 2012
In the tradition of Frederic Bastiat and Henry Hazlitt, William J. Baumol is a plainspoken economist who elegantly presents simple logic with huge implications. In “The Cost Disease: Why Computers Get Cheaper and Health Care Doesn’t,” he explains why the cost of labor-intensive industries — like health care and education — increases much more quickly than inflation. I highly recommend. More in my Sunday column.