December 05, 2013
Interesting piece on the prospects of a doctor shortage by Scott Gottlieb and Ezekiel Emanual in the NYT. Interestingly they never discuss the possibility of bringing in more qualified doctors from other countries. It’s much cheaper to train doctors (to U.S. standards) in other countries than in the United States. If the political system were not so completely dominated by protectionist Neanderthals, opening up our system to foreign trained doctors would be a central item on the trade agenda. The potential gains to the economy from reducing doctors’ wages to the level paid in other wealthy countries would be close to $100 billion a year (@ $800 a year for a family of four).