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    35 days ago

    This economic problem of quality news production — where the really good stuff only gets more expensive because technology can’t make it more efficient — is called Baumol’s cost disease. It’s the same reason your local symphony orchestra, if you still have one, is reliant on philanthropy, corporate sponsorships, or hiking ticket prices for an inevitably more elite audience whose own wealth has been increasing from productivity increases in other parts of the economy.