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  Spreading the Benefits of Productivity Increases: Price Increases, Decreases, or Both? A Critique of Baumol on Subsidies to the Arts

  This paper attempts to grapple with the market mechanism through which growth in one sector of the economy spreads to other sectors. It calls into question Baumol’s argument for subsidies to the arts and by extension, to other economic areas that have not enjoyed productivity increases.... This paper attempts to grapple with the market mechanism through which growth in one sector of the economy spreads to other sectors. It calls into question Baumol’s argument for subsidies to the arts and by extension, to other economic areas that have not enjoyed productivity increases.

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  Transformation Processes and Economic Priorities of Bulgaria

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  Human aAction - Part Four, Chapter XVI. Prices, §§ 8-15

  In the same way in which governments restrict competition in order to improve the position of privileged sellers, they can also restrict competition for the benefit of privileged buyers. Again and again governments have put an embargo on the export of certain commodities. Thus by excluding foreign buyers they have aimed at lowering the domestic ... In the same way in which governments restrict competition in order to improve the position of privileged sellers, they can also restrict competition for the benefit of privileged buyers. Again and again governments have put an embargo on the export of certain commodities. Thus by excluding foreign buyers they have aimed at lowering the domestic price. But such a lower price is not a counterpart of monopoly prices. What is commonly dealt with as monopoly of demand are certain phenomena of the determination of prices for specific complementary factors of production.