Things look brighter for physicians with the likely demise of Obama care. Had Obamacare passed physicians would have had government bureaucrats telling them how to practice medicine, who to treat and how much treatment would be allowed. Medical specialties in neonatal care and geriatrics would have disappeared and been replaced by death panels.
There's your answer as to why the proliferation of med schools. They are being trained from day one to be government bureaucrats beholden to their masters in DC. I guess they have not done a business cost analysis of their lengthy education and lost production as compared to another career. What I don't understand yet is why anyone would spend another seven to ten years in training after college to be paid what socialist doctors make.
Spoke to a doctor yesterday about this subject This is not the long hand of the free market.
Guilds like the medical organizations have no free market.
The healthcare bill is requiring that more than fifty percent of med students be either minorities or foreign. The schools are ramping up to take them. There is, of course, monies involved.