Publication details
Baumolova choroba: Consilium ekonomů nad strukturálním neduhem
| Title in English | Baumols cost disease: Consilium of economists over structural malady |
|---|---|
| Authors | |
| Year of publication | 2014 |
| Type | Article in Periodical |
| Magazine / Source | Scientia et Societas |
| MU Faculty or unit | |
| Citation | |
| Field | Management and administrative |
| Keywords | Baumols cost disease; unbalanced growth; performing arts |
| Description | Forty-six years ago, an American economist William J. Baumol published a relatively simple concept of unbalanced growth model, in which, inter alia, attempted to explain some phenomena associated with performing arts. The discussion that followed his publication is a valuable example of gradual improvement of the economic model which describes this special economic phenomenon, associated most (but not exclusively) with the area of culture. The debate, which lasted for several decades and which interested economists such as Joan Robinson, Derek Leslie and William D. Nordhaus, is not only interesting chapter from the history of economic thought, but also a potentially useful tool for teaching economics, for an accessible and easily understandable description of the nature and methods of economic debate. |