On Fri, 31 Jul 2015, 5:26pm PDT
Why are dentists so damn rich?,
Bellingham Bill said:
But let's focus our attention on people making $150,000/year and convince ourselves that they are the ones causing all the inequity we see today.
Hold that thought, LOL. It's HOW the rich are pulling money out of the working classes that is the issue.
Rent-seeking in healthcare, especially dentistry, is right up there in rent-seeking in housing as for extortive, extractive abuses of working Americans actually creating value while having their wages compressed due to having to compete with $2/hr China and $3/hr Mexico and $4/hr illegal immigrants.
It's all about moats and needs. Somebody with painful dental issue has a burning need, and the providers have historically put up all the moats they can to keep their rent-seeking game going. People have to travel to fucking Mexico to get good value for their money.
Both housing and healthcare are ripping $4T out of the economy each year. At least the latter comes with more jobs, but damn if both aren't really turning the screws on people.
" I think that insurance involvement in the medical industry has been disastrous to pricing"
The dentistry market blows that thesis into pieces. It's simply supply & demand. Dentists limit supply, and the demand is great, especially when we were all consuming a half pound of sugar a day