The Medical Cartel

[Guest guest]

Interesting thoughts and replies.http://mjperry.blogspot.com/2009/06/why-are-md-salaries-so-high-medical.htmlI've often suggested (only partly tongue in cheek) that I don't mind the primary care residency #'s going down -- that would just make my skills as a primary care physician more valuable...yes?

Of course, the economics of how we are paid don't quite work that way -- more demand doesn't always make for more pay.

Why are MD Salaries So High? The Medical Cartel

Greg Mankiw features the chart above on physicians' salaries in the U.S. vs. various European countries and Canada, showing that MDs

in the U.S. make about $200,000, which is between 2 and 5 times as much

as doctors make in other countries. How do we explain the significantly

higher physician salaries in the U.S.?One explanation is the

restriction on the number of medical schools, and the subsequent

restriction on the number of medical students, and ultimately the

number of physicians. Consider the difference between law schools and

medical schools.snip/snipNot sure we want our medical system run like the legal/attorney system in the US, but interesting thoughts. Locke, MD