Nick Szabo  🔑

That last one is a little baumolly... in that the nature of the service precludes a pattern of rapidly increasing productivity you'd see with manufactured goods

Biggest effect: Baumol’s cost disease Health care, child care, edu = local labor-intensive, hard to automate — wages in these sectors rise as other sectors get more productive, but productivity lags due to labor-intensity Costs rise; TFP rises less https://en.m.wikipedia.org/wiki/Baumol%27s_cost_disease …

Education is easy to automate, official or branded certification is not.

There is a very important part of education related to human relation. I cannot imagine the result of an automated education, lacking that aspect. In any case it could be not preferable.

I get it, but I strongly agree with @NickSzabo4 - I think it’s really nuanced which elements/ages of ed can be automated Again we see eg K-12 ed („factory style XIXth C. ed..) as benchmark when it’s an aberration MOOCs, web, info’s out there — so much ed can be automated

As I learned from EconTalk, well-intentioned government intervention usually consists of subsidizing demand and constricting supply.

There's a collective name for all three those causes though: government. So, you may say it's pretty much single-cause. :)

Regulation is a tax, subsidy comes from tax. Tax shifts and reduces production. The shift can create no more inflation in one sector than deflation in another. Reduced production reduces goods, which is inflationary. Seigniorage is also a tax. So yes, it’s just tax.

Price inflation/deflation is merely a change to the money relation (money to demand for goods in the money). With market money, the consumption of goods in production of the money offsets the new money, preserving the relation. So... increased demand for goods, or seigniorage.