@FluentInFinance

Have you encountered Baumol's Cost Disease?

I've done a bit of reading about it over the years in the sector. It also applies to most face-to-face , legal costs, performing arts, and even law enforcement.

Classic example...

How many musicians did it take to perform a Mozart quartet in 1790?

"Four"

How many does it take for a live performance today?

"Still Four"

This tautology illustrates one extreme of the per-worker productivity curve. A quartet will forever require four musicians. There are no opportunities to make the performance more efficient without fundamentally changing the definition of performance (such as increasing the size of the audience).

From the wiki page...

"...the tendency for wages in jobs that have experienced little or no increase in labor to rise in response to rising in other jobs that did experience high productivity growth. In turn, these sectors of the economy become more expensive over time, because the input costs increase while productivity does not. Typically, this affects services more than manufactured goods, and in particular , , and ."

en.wikipedia.org/wiki/Baumol_e

His Book: "The Cost Disease: Why Computers Get Cheaper and Health Care Doesn't", William J. Baumol et al, 2012, Yale University Press