# Prof. William Baumol's "cost disease" theory is referenced

1 Faculty News December 31, 2012 ![The Washington Post logo](/sites/default/files/styles/246w/public/assets/images/con_031074.jpg?itok=f6OME_Rm)>

Excerpt from the [Washington Post](http://www.washingtonpost.com/opinions/charles-lane-big-bloat-on-campus/2012/12/31/649c12b8-536b-11e2-bf3e-76c0a789346f_story.html) -- "That is the nature of education, to be sure. In their purest form, market concepts of cost-effectiveness don’t neatly apply to what universities do, for reasons well explained by economist [William Baumol](http://www.stern.nyu.edu/faculty/bio/william-baumol) of New York University’s Stern School of Business."

[Read more](http://www.washingtonpost.com/opinions/charles-lane-big-bloat-on-campus/2012/12/31/649c12b8-536b-11e2-bf3e-76c0a789346f_story.html)