High-cost areas such as science achieve more than lower-cost areas such as humanities.
Under this, part of the surplus of the lower-cost banks is transferred to the higher-cost banks.
I believe that he was hinting at the equation between expenditure on high-cost and high-technology medicine, and lower-cost, lower-technology medicine.
Why should we not exist in that up-market, lower-cost sector?
We could have lower-cost production with more automated machinery.
We are particularly good at that and it will counteract any tendency for lower-cost activities to go to lower-cost countries.
The intention might be to provide a lower-cost service, but it will be subsidised by the community charge payer.
It rejected the combined cycle and the gas turbine, which at least would have given diversity of supply, cleaner energy production and lower-cost electricity.
