And I say this as someone who could have used it multiple times in the last few years, though admittedly not a good prototypical case (2/2).
@interfluidity re: healthcare as domain in which mkt doesn't work, what do you think of Baumol's "cost disease" take on that?
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@vgr i think it’s silly. few domains whose practice has changed technologically/organizationally more than HC. not a violin quartet. -
@interfluidity@vgr Baumol is so friggin silly. - 13 more replies
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@vgr i think it’s basically asymmetric info + price-inelastic demand + credential + regulatory cartels => very high rents. -
@interfluidity that doesn't sound so far from baumol model... do you have yours written up longform? - 1 more reply
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