Thursday, August 14, 2008

Monopoly Australia - Doctors

Australia has a long history of creating wealth by contrived scarcity licensing. A government licence enables wealth transfer from consumers of the resource to holder of the licence. The medical field specialises in licences and high salaries to licence holders and barriers to entry are testament to their success.

Doctor shortage: 10 years before a cure can be found
AUSTRALIA'S system of registering and accrediting foreign medical graduates is so "dysfunctional" hat the country is likely to face chronic doctor shortages for another decade, says a Canadian-born doctor.

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