Baumol effect
Baumol effect
Rise of salaries in jobs that have seen little rise of productivity.
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Readers' pathsAug 2026 – Oct 2026
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Tertiary sector
Service sector.
19%
Engel's law
Empirical observation in economics that as income rises, less is spent on food.
6.6%
Workforce productivity
Concept in economics.
4.5%
Post-industrial society
Service and knowledge-based society.
3.8%
Jean Fourastié
French economist.
1.5%
Economic inequality
Distribution of income or wealth between different groups.
0.96%
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