Michael Rushton

Their insight was regarding technical change, and in particular, in what sectors can you have labor-saving technological change, and in what sectors is that going to be very difficult to achieve? When they looked at the live performing arts, they said, well, here is an area where labor-saving technological change is going to be really rare. You can't reduce the number of players in your orchestra.

Their insight was regarding technical change, and in particular, in what sectors can you have labor-saving technological change, and in what sectors is that going to be very difficult to achieve? When they looked at the live performing arts, they said, well, here is an area where labor-saving technological change is going to be really rare. You can't reduce the number of players in your orchestra.

Their insight was regarding technical change, and in particular, in what sectors can you have labor-saving technological change, and in what sectors is that going to be very difficult to achieve? When they looked at the live performing arts, they said, well, here is an area where labor-saving technological change is going to be really rare. You can't reduce the number of players in your orchestra.

You can't reduce the number of casts you need to put on a performance of Macbeth. And wages have to rise with the rest of the economy, which means constantly your costs are going to be rising. And in theaters right now, we see that. If you speak to any theater producer who is saying, well, we're struggling to get by, one of the first things they say is, our costs keep going up.

You can't reduce the number of casts you need to put on a performance of Macbeth. And wages have to rise with the rest of the economy, which means constantly your costs are going to be rising. And in theaters right now, we see that. If you speak to any theater producer who is saying, well, we're struggling to get by, one of the first things they say is, our costs keep going up.

You can't reduce the number of casts you need to put on a performance of Macbeth. And wages have to rise with the rest of the economy, which means constantly your costs are going to be rising. And in theaters right now, we see that. If you speak to any theater producer who is saying, well, we're struggling to get by, one of the first things they say is, our costs keep going up.

And the main cost that they face is labor. You have to pay your performers. You've got to pay your crew. You've got to pay your back office staff. And it's just really hard to save on those kinds of numbers.

And the main cost that they face is labor. You have to pay your performers. You've got to pay your crew. You've got to pay your back office staff. And it's just really hard to save on those kinds of numbers.

And the main cost that they face is labor. You have to pay your performers. You've got to pay your crew. You've got to pay your back office staff. And it's just really hard to save on those kinds of numbers.

10 out of 10. We see the pressures of cost disease in all of the sectors that Bommel and Bowen mentioned where you can't really save on labor. Education would be one example. A teacher can only handle so many students at a time and teachers' wages have to rise with the rest of the economy or nobody's going to want to be a teacher anymore.

10 out of 10. We see the pressures of cost disease in all of the sectors that Bommel and Bowen mentioned where you can't really save on labor. Education would be one example. A teacher can only handle so many students at a time and teachers' wages have to rise with the rest of the economy or nobody's going to want to be a teacher anymore.

10 out of 10. We see the pressures of cost disease in all of the sectors that Bommel and Bowen mentioned where you can't really save on labor. Education would be one example. A teacher can only handle so many students at a time and teachers' wages have to rise with the rest of the economy or nobody's going to want to be a teacher anymore.

Healthcare is another example, and it's an interesting one because we think, well, there's been lots of technological change in healthcare. We have all these machines now. We have all these new pharmaceuticals. That's very, very true. But a large part of your healthcare costs are labor, paying nurses, paying technicians.

Healthcare is another example, and it's an interesting one because we think, well, there's been lots of technological change in healthcare. We have all these machines now. We have all these new pharmaceuticals. That's very, very true. But a large part of your healthcare costs are labor, paying nurses, paying technicians.

Healthcare is another example, and it's an interesting one because we think, well, there's been lots of technological change in healthcare. We have all these machines now. We have all these new pharmaceuticals. That's very, very true. But a large part of your healthcare costs are labor, paying nurses, paying technicians.

You can't just say, well, one nurse can handle 200 patients at once now because of technological change.

You can't just say, well, one nurse can handle 200 patients at once now because of technological change.

You can't just say, well, one nurse can handle 200 patients at once now because of technological change.

I think there is a communication issue. The first thing is actually calling it cost disease. What is it resulting from? It's resulting from our getting richer. You only have cost disease because the economy as a whole is becoming more productive and real incomes are rising. So that seems like an odd disease where you say, yes, we're all getting richer.

I think there is a communication issue. The first thing is actually calling it cost disease. What is it resulting from? It's resulting from our getting richer. You only have cost disease because the economy as a whole is becoming more productive and real incomes are rising. So that seems like an odd disease where you say, yes, we're all getting richer.