Services without Tears
A famous claim in economics is that the costs of services (such as health care and education) tend to increase relative to the costs of goods (such as food, oil, and machinery). But a sharp decline in the costs of health care, education, and other services is now possible, thanks to the ongoing revolution in information and communications technology.
https://prosyn.org/drreVzj
NEW YORK – A famous claim in economics is that the cost of services (such as health care and education) tends to increase relative to the cost of goods (such as food, oil, and machinery). This seems right: people around the world can barely afford the rising health-care and school-tuition costs they currently face – costs that seem to increase each year faster than overall inflation. But a sharp decline in the costs of health care, education, and other services is now possible, thanks to the ongoing information and communications technology (ICT) revolution.