Monday, September 27, 2010

Do medical school as a guild restrict entry to protract their lofty wages?

In a way, that's true, but the driving force isn't so much the profession as the elected representatives. Uncle Sam has it figure that they don't have to rate as many doctors if in that aren't so many doctors to compensate, and that's one way they control Medicare and Medicaid costs. Before you seize too political about this, though the Democrats tend to do more of it, the Republicans run a close second. And pills is so highly government-regulated that it would be flowing to have a 50% increase within the number of doctors without touching the doctors' individual income.
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