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Healthcare and Education - Is That a Good Proxy for Skilled Labor?
Wages for people with advanced degrees haven't risen nearly as fast as costs of healthcare and education which seems like it undermines the bomb effect story. But then doesn't it seem perverse that salaries would go up even more in healthcare and education if what they're doing is just responding to increased wages in other sectors? So I think there's a few things going on. First is very clear that the price of skilled labor wages for skilled laborers have gone up a lot. And that's a general feature of the US economy.