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Why it’s ‘Roll Over Beethoven’ for unis to cover costs
Universities around the world are in trouble and have a more insidious chronic ailment to deal with, often known as Baumol’s cost disease.
Stephen ParkerContributorWhen Beethoven’s 14th string quartet was first performed in 1826 it required four musicians and took 40 minutes to play. Today, not surprisingly, it requires four musicians and 40 minutes to play.
However, the real cost of musicians’ wages has risen by more than 23 times since 1826. To attract enough musicians, someone has to pay them salaries commensurate with those of talented people in other sectors.
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