economy
Unhappy voters are suffering from ‘Baumol’s disease’
An analysis of classical music can explain why people feel they are paying more taxes for worse public services
TL;DR
- Classical music analysis can explain perceived decline in public services despite higher taxes.
- The issue is related to Baumol's disease.
- Baumol's disease affects labor-intensive sectors where productivity gains are limited.
- Rising wages in other sectors drive up costs in these service-based areas.
- This leads to a situation where costs increase faster than productivity, impacting service quality or affordability.