The Baumol Bump: How India's Growth Gap Creates a New Kind of Frustration As the Indian middle class grows and prospers, its frustrations are becoming increasingly evident in everyday experiences.
Long lines at government offices, schools, hospitals, and airports have become a norm. Meet Naraz Fufa, the embodiment of this aspirational crowd's economic anxiety.
The key to understanding Naraz Fufa's plight lies in economics – specifically, Baumol's cost disease.