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Only in case corn has something to substitute. Think like... doctors. If you don't have enough doctors graduating, the hospitals still need them. It's not like
by FalconSensei 5y ago
Only in case corn has something to substitute. Think like... doctors. If you don't have enough doctors graduating, the hospitals still need them. It's not like they can hire veterinarians or mechanics instead
- darkwizard42 5y agoYeah, but the GP comment is using corn (generally substitutable) to make a point about service/line-level food workers. That role isn't exactly specialized labor. It is pretty clear in this case that the supply exists, just not willing to enter the market at the clearing price.
- pchristensen 5y agoWith lower supply of doctors, then price goes up for patients (in wait times) and insurers ($$). Some marginal health issues will be ignored, deferred, or seen by nurse practicioners. Boom - equilibrium!
- renewiltord 5y agoThis is non-congruent with the use of the word “shortage” in economics. Under this model, the word shortage is not well-defined. This is certainly a model but it makes discussion hard when two models are using the same signifiers to represent different concepts.
- deleted 5y ago[deleted]
- jacobr1 5y agoThere has been a big push to diversify supply with Nurse Practitioners and PAs. They aren't able to perform all the actions an MD can perform, but have a lower entry bar but still can treat and prescribe in a large array of cases.