William Baumol: The Prolific Economics Writer
William Baumol was one of the most prolific economists of his time. He was born in South Bronx.
Baumol is credited for having written an excess of 500 research papers.
Earlier in life Baumol read the works of Karl Marx which triggered his interest in the field of economics. He later on earned his doctorate degree in economics.
William Baumol always argued that the difference between the rich and poor nations is on the way they use technology. He is also fondly remembered for his concept of cost disease which basically talks about replacement of human being in the place of courtesy of large-scale automation.
On the same note, William Baumol predicted that in future there will be fewer and fewer doctors and teachers offering their services to more and more patients or students through the use of new technologies.
Those who knew William Baumol say that he was a humble but pragmatic intellectual.
