3 ms·
Depends on how you see it, medical degree is a supply chain problem, subjected to the same bullwhip effect. We can't predict demand of doctors 5 year down the r
by a_c 4y ago
Depends on how you see it, medical degree is a supply chain problem, subjected to the same bullwhip effect. We can't predict demand of doctors 5 year down the road. The worst we could do is to treat today's demand as demand for 5 year in the future. If we double the supply today, in 5 years we will have double supply, hopefully without another pandemic. Many things could happen, if funding stays the same, benefits among all doctors will be affected, or we appropriate funding from other endeavours. If the demand doesn't sustain, funding get cut, less students find it attractive as a career, supply reduces. In reality many more factors get into play. So when Cleverly said "we can't flip a switch", there are some merits to it.
https://en.m.wikipedia.org/wiki/Bullwhip_effect https://en.m.wikipedia.org/wiki/Bullwhip_effect