alt Hacker NewsGoing back to econ 101 & supply/demand curves:
Jevons describes the supply curve moving out, resulting in increased quantity
Baumol describes the supply curve moving back, resulting in higher prices
Going back to econ 101 & supply/demand curves:
Jevons describes the supply curve moving out, resulting in increased quantity
Baumol describes the supply curve moving back, resulting in higher prices
Yes, and in while Jevons is obvious why (efficiency changes the supply curve), Baumol is less apparent because the cause is more indirect.