In a word: government cartel

How is with US physician compensation twice that of the rest of the world and with population both growing and aging substantially that the supply of physicians has remained constant over 30 years?  After all, the supply of all sorts of useless college graduates has soared in this time frame.

In a word:  a Government cartel - the Feds control the supply of med school places and in the waning days of our penultimate liberal fasicst Jimmy Carter, Congress passed a cap, ensuring fewer physicians and much higher wages.

Oh, and healthcare economists tell us that one of the biggest significant reasons for the expense difference between US and other health care systems is the much higher compensation of our skilled health care professionals.  Go figure.