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

1 Faculty News March 12, 2013 ![Forbes logo](/sites/default/files/styles/246w/public/assets/images/con_030508.jpg?itok=SId6k3bx)>

Excerpt from [Forbes](http://www.forbes.com/sites/forbesleadershipforum/2013/03/12/the-real-winners-of-the-coming-revolution-in-higher-education/) -- "In the 1960s the economists [William Baumol](http://www.stern.nyu.edu/faculty/bio/william-baumol) and William Bowen identified the productivity problem at the root of the rising relative cost of higher education. They identified education as a profession where labor productivity was not amenable to improvement through technological advance."

[Read more](http://www.forbes.com/sites/forbesleadershipforum/2013/03/12/the-real-winners-of-the-coming-revolution-in-higher-education/)