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Alex Tabarrok - Prizes, Prices, and Public Goods
Dwarkesh Podcast
The Progressive Sector and the Price of Healthcare
In 1826, it takes four people 40 minutes to do a high-end string quartet. And you think about 2020, it takes 4 people 40 minutes for the same thing. So their productivity hasn't gone up at all; what you can get is way higher. That's really why the price has gone up, is because of the progressive sector. But now with growth slowing down, we're actually seeing like healthcare prices are going up less quickly.
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