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There's a reason doctors drive nice cars and wear nice shoes; they are collecting monopoly rents. The doctors and nurses are the ones extracting the vast majori
by nickff 6y ago
There's a reason doctors drive nice cars and wear nice shoes; they are collecting monopoly rents. The doctors and nurses are the ones extracting the vast majority of the wealth from the ever-growing healthcare sector. The problem is that saying we want more, lower-quality doctors, and cheaper foreign ones to improve services and reduce our expenditures is politically unpopular.
- ndespres 6y agoDoesn't medical school in the US cost something like $350,000? That might have something to do with high doctor salary. Doctors and nurses, heck let's include hospital janitors too, are not "extracting wealth" from the healthcare sector. They are being compensated for their labor and skills. Wealth extraction occurs when people profit from the industry who are not performing any labor or providing any value.
- nickff 6y agoMedical schools are the method by which doctors control the supply of competitors (as the AMA controls school accreditation).[1] The schools are simply collecting their share of the rent. [1] https://medianism.org/2018/03/31/occupational-licensing-is-the-new-unionization/ https://medianism.org/2018/03/31/occupational-licensing-is-t...