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Prof. William Baumol's cost disease theory is cited

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Excerpt from the Associated Press -- "There's also the famous analogy of Princeton economists William Baumol and William Bowen from the 1960s, that college teaching is akin to a string quartet. No matter how technology improves, a string quartet simply can't be performed (well) by fewer people than in Beethoven's day."

Additional coverage appeared on ABC News and CBS News.

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