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Hence supply and demand. But what you're describing ignores supply, and that's wrong. If you doubled the supply of doctors (or concretely made things that docto
by hyperpape 12y ago
Hence supply and demand. But what you're describing ignores supply, and that's wrong. If you doubled the supply of doctors (or concretely made things that doctors do be doable by nurses), you would get lower prices, as they competed for business.
Sometimes the restrictions on supply are artificial, sometimes they are natural. Medicine are a good example of both effects. Being a doctor is hard, and requires a lot of education. But there are also limitations on how nurses and other medical practicioners can work (dental hygienists can't clean your teeth unless they are supervised by a dentist).