Cost Disease or Baumol’s cost disease is a name for the rise of salaries in jobs that have experienced no or low increase of labor productivity [1]. Some use the term generally to refer to rising costs in general [2].
Often the questions being asked in Cost Disease discussion are why the cost healthcare and education have increased many, many times over.
External Posts:
Book Review: Why Are The Prices So D*mn High? - Scott Alexander
Why haven’t we moved from calling it cost disease to calling it Cost Inflation (or something similar)?
If this is a concept we would like many people to know about it needs an intuitive name.