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Monday, 9 March 2015

The reported productivity gains of the service industry in the late 1990s can be mostly attributed to total factor productivity.

http://en.wikipedia.org/wiki/Baumol%27s_cost_disease

The reported productivity gains of the service industry in the late 1990s can be mostly attributed to total factor productivity.Providers decreased the cost of ancillary labor through outsourcing or technology. Examples include offshoring data entry and bookkeeping for health care providers, and replacing manually marked essays in educational assessment with multiple choice tests that can be automatically marked.

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