Summit Academic Associate Dr. William Baumol’s The Cost Disease has been featured in the Wall Street Journal’s “Twelve Months of Reading.” The article features book picks from experts and professionals in multiple disciplines, including politics, economics, education, and writing. Alan Blinder, an economics professor at Princeton University who served on President Bill Clinton's Council of Economic Advisors and as the Vice Chairman of the Board of Governors of the Federal Reserve System, chose the book for his list, noting that it is “a new exposition of the most important economic idea you've never heard of.” Dr. Baumol’s insightful research shows that the cost of services will outpace the rising cost of manufactured goods. His theory could help to explain many of the changes within our economy in the coming years.
