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The paper draws on Baumol’s (1967) model of «unbalanced growth» to show that pressing economic problems of mature economies such as declining growth rates of real GDP, an increasing government share in GDP and the «cost explosion» in health care can readily be explained – yet they cannot be finally resolved. Swiss economic data are used to verify that the economic developments Baumol’s model predicts are indeed underway. Some policy as well as politico-economic conclusions are drawn from these insights.
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