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

1 May 20, 2013 New Yorker, The ![The New Yorker logo](/sites/default/files/styles/246w/public/assets/images/con_032750.jpg?itok=hERliZMl)>

Excerpt from the [New Yorker](http://www.newyorker.com/reporting/2013/05/20/130520fa_fact_heller?currentPage=all) -- "In the mid-nineteen-sixties, two economists, [William J. Baumol](http://www.stern.nyu.edu/faculty/bio/william-baumol) and William G. Bowen, diagnosed a “cost disease” in industries like education, and the theory continues to inform thinking about pressure in the system."

[Read more](http://www.newyorker.com/reporting/2013/05/20/130520fa_fact_heller?currentPage=all)