baumol effect

Fetched 2026-10-26 (cache).

Datamuse reports no synonyms or antonyms for this word.

Proper noun

1. {{lb|en|economics}} A theorem stating that there is a [[tendency]] for [[wage]]s in jobs that have experienced little or no increase in [[labor productivity]] to rise in response to rising wages in other jobs that did experience high [[productivity growth]].

Source: Wiktionary · CC BY-SA 4.0 (Wiktionary dump) · cached copy, not a rewrite.