On May 4th, Professor William J. Baumol died at
the age of 95. He was a prodigious writer and innovator in economic theory,
author of some 500 papers over the more than half a century he taught at
Princeton University and NYU. At least
once, he was reportedly on the shortlist for the Nobel Prize in Economics, and
if anyone deserved it, he did. I’ve read a couple of the obituaries of Prof.
Baumol and I thought they missed the point of much of his work so I’d like to
add my own.
