Spreading the Benefits of Productivity Increases: Price Increases, Decreases, or Both? A Critique of Baumol on Subsidies to the Arts
Spreading the Benefits of Productivity Increases: Price Increases, Decreases, or Both? A Critique of Baumol on Subsidies to the Arts

Summary/Abstract: This paper attempts to grapple with the market mechanism through which growth in one sector of the economy preads to other sectors. It calls into question Baumol's argument for subsidies in the arts and by extension, to other economic areas that have not enjoyed productivity increases.

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