Lists / People
William Baumol
cost disease; contestable markets.
Princeton and NYU economist who formulated Baumol's cost disease, explaining persistent cost inflation in labor-intensive service sectors.
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RCT development framework; Poor Economics.
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02Adam Smith
invisible hand; division of labor.
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Exit, Voice, and Loyalty; linkages.
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supply-and-demand; consumer surplus.
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capability approach; social choice.
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heuristics-and-biases (would-be Nobel; foundational to behavioral econ).
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08Angus Deaton
consumption and welfare measurement.
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Last updated
10 May 2026