2006-09-12 06:36:22 · 8 answers · asked by Tracy L 1 in Politics & Government ➔ Other - Politics & Government
construction worker can be done part time, ... so many human resource to be used, and that makes the supply of worker is more than a physicians
2006-09-12 06:47:37 · answer #1 · answered by Henry W 7 · 0⤊ 0⤋
Well, the explaination is only partly economics. The econ part is that there is more demand and less supply of doctors than construction workers. Of course it takes longer to train a doctor than a construction worker, but that only explains part of the difference.
The majority of the difference is caused by government interference in the free market. Contruction projects are traditionally competively bid, where several qualified contractors compete for the job. Only one of them gets it and their people have work and the others don't. This puts pressure to hold the cost down.
While there are a few regulations that effect the cost of construction workers, minimum wage and the like. There are no supply restrictions to construction workers. If I want to be one I can go get a job tomorrow.
On the other hand their are plenty of regulations that restrict the supply of doctors. Admittance to medical school is governed by medical boards of each state, usually loaded with practicing doctors who aren't interested in dealing with a lot of new competition. Then once a medical school graduate wants to practice they have to licensed by the state before they can practice. Again the state board comes into play, they do not have to license potential doctors just becuase they've graduated from medical school. So the doctor supply is heavily regulated to protect the incomes of practicing doctors.
Then there is the demand side of medical care. Most people have insurance for medical expenses and so a third party pays the cost. There is no cost factor to reduce demand for medical services other than the insurance co-pay.
Next thing you know doctors make about 6 to 8 times the annual income of construction workers and health care cost are blowing through the roof.
2006-09-12 13:55:22 · answer #2 · answered by Roadkill 6 · 0⤊ 0⤋
Supply and demand. Anyone can swing a hammer with very little training, so there is huge supply of workers. It takes a minimum of 8 years of advanced education to become a doctor. Only a few people can afford this and are willing to take the time to do so. So there is a small supply of doctors.
Same as everything in a free market.
2006-09-12 13:46:15 · answer #3 · answered by Aegis of Freedom 7 · 0⤊ 0⤋
Supply and demand...very few people meet the qualifications required to be a doctor.
Many people meet the qualifications to get into (some) construction jobs.
Also, maybe people are willing to pay more for their healthcare than construction work on an hourly basis.
2006-09-12 13:44:56 · answer #4 · answered by Anonymous · 0⤊ 0⤋
But if the State paid for their education, than the wages could be brought more in line with each other. Who is more important the Brain surgine or the garbage collector? Think about it. Without the Garbage man you will need a h*ll of a lot more Drs. It's called Social Democracy, the best form of gov. possible.
2006-09-12 13:54:58 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It costs more to train a doctor & the malpractice insurance is an ugly kind of expensive, too.
2006-09-12 13:40:38 · answer #6 · answered by Dave of the Hill People 4 · 0⤊ 0⤋
Supply and Demand, period.
2006-09-15 13:04:40 · answer #7 · answered by Anonymous · 0⤊ 0⤋
more resources invested into doctors...education, insurance, etc...
2006-09-12 13:38:55 · answer #8 · answered by hichefheidi 6 · 0⤊ 0⤋