The BOML Effect Isn't Consistent With the BOML Story

The student to teacher ratio has shrunk a lot over the decades so back in 1950 or so it was like 27 students per teacher and now it's about 16. It fits the BOML story quite neatly with one kind of one theory can explain both why the price is going up and why you might consume more of these goods. The increase in price is driven by the fact that we're becoming more productive every increase in price also comes with more income greater resources.