Quote:
Originally Posted by MikeWaters
You think an invisible hand is choosing the number of lawyers and their reimbursement.
You think me calling you naive is insulting. So I'm not sure how to respond other than to say, you are wrong and naive.
I certainly don't believe that an invisible hand is doing the same for doctors.
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Mike, lawyers go into law because there is money in law. The less money there is in law, the less lawyers would be willing to go into law. That's law of supply. There's money in law because there is demand for the services lawyers provide. This is as "invisible hand" as it gets.
This is Econ 101 stuff, Mike. If this isn't what's happening, I'm open to hear alternative explanations. As it is, you've given one highly self-serving example of the medico-legal industry, and when asked to substantiate your claim, refused to do so because you "don't have the patience to explain it" and you're "not expert in it."
So if you're too lazy to do anything but call me naive, let's move on.
Quote:
Originally Posted by MikeWaters
Another thing, which is a qualitative statement of opinion, is that there are a lot of dumb people going to bad law schools (and good schools as well). Lawyers complain that there are too many lawyers.
A trap that exists for both doctors and lawyers is this: I went to an expensive, good school, I got good grades, so a higher paying job is available to me. I have to take it, because there are many other people that would kill (they are lawyers for chrissakes) to have this opportunity. Then they embark on a journey that is motivated by what they perceive as the preferred values of others, and not by an inner compass.
There was a kid in my ward that was Harvard Law grad. Corporate/big firm job. Freaking guy was trying to talk his wife into letting him go to med school. That doesn't strike me as someone happy with his job/career. He's changed jobs/firms, no doubt, hoping that the new place will do for him what his law career has failed to do, so far.
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I know a guy who did just what you describe. He went to Harvard, got a law degree, and then went to Georgetown for medical degree. He's now a board member of a pharmaceutical corporation worth more than Chrysler, earning millions and millions of dollars. Things seem to have worked out for him.
Do people fall in that trap? Absolutely. And for others, the "trap" is the beginning of a long, happy, and successful career.