http://www.dailyfinance.com/2010/12/11/americas-economic-illness-baumols-dis/#articleHeader
The two men noted that if productivity and wages rose, for example, by 2.2% a year and costs rose by 2%, then over time, workers would be able to buy more of everything -- more goods and services directly, and more government services paid for with taxes. As the productivity "pie" expands, there's more wealth in the economy for every sector.
The two men noted that if productivity and wages rose, for example, by 2.2% a year and costs rose by 2%, then over time, workers would be able to buy more of everything -- more goods and services directly, and more government services paid for with taxes. As the productivity "pie" expands, there's more wealth in the economy for every sector.
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