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The supply constraints med schools impose most certainly are not to prevent "oversupply" of doctors. Depending on who you ask, there are two main reasons they e
by discoursism 9y ago
The supply constraints med schools impose most certainly are not to prevent "oversupply" of doctors. Depending on who you ask, there are two main reasons they exist. One view is that there's a finite amount of doctors willing to work at academic hospitals, and thus there's a limited amount of new medical students that can be adequately trained. Another view is that medical schools collude to form a guild to better separate the American populace from their money, by ensuring that doctors are always scarce relative to the demand for their services. This allows doctors to demand a dramatically higher compensation for their efforts than in other countries, despite being no better here than elsewhere.
- crimsonalucard 9y agoIn a normal economy the only thing regulating supply, is demand. The kind of organization that imposes supply constraints to sarcastically prevent "oversupply" are called cartels. You know, like a drug cartel?
- TeMPOraL 9y agoTrue to the definition of the word, but you have a wrong example. "Drug cartels" are anything but, and the only actual cartel in the drug trade is the United States government.
- posterboy 9y agoTo be fair, it's a doctors declared goal, to reduce the need for themselves. From a system stand point, down regulation in moderately quiet times promotes people to be well healthy by their own. It's symmetric if its not just doctors monotonically maximizing their income, but also patients and doctors competing with each other and one another for prosperity. So the doctors who earn most, should in principle dampen their own optimal payout.