Realist, not conformist analysis of the latest financial, business and political news

Of Course The Minimum Wage Kills Jobs – Doctors Prove It

Amazing how doctors are not experts in economics. Something we were also told last week:

Britain’s GPs are among the best paid in the western world, a major report has found.

The international study shows that family doctors now earn more than three times as much as the average employee.

GP partners typically earn more than £115,000 a year for full-time work, with most family doctors opting for part-time hours.

Isn’t that amazing? People buy less of something more expensive. Doctors are more expensive in Britain than not in Britain. Britain buys fewer doctors than non-Britain does.

Our word, if only someone had set up a science to study this sort of thing.

And if this is true of doctors then of course it’s also going to be true of other workers isn’t it? Those minimum wage rises are going to lead to fewer people being employed. Because people buy less of more expensive things.

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Mr Yan
Mr Yan
4 years ago

Are Polish doctors paid well also or are they lacking for some other reason.

KrakowJosh
KrakowJosh
4 years ago
Reply to  Mr Yan

Polish doctors’ pay is pitiful.

Mr Yan
Mr Yan
4 years ago
Reply to  KrakowJosh

So, presumably the lack of doctors in Poland is due to poor pay. In the UK, we don’t have enough due to high pay. So where between the two is the correct place to put their earnings? Enough to make fairly smart people want to spend 4 years in medical school (Uni) and X years as a junior on crap hours. But not enough to make them go part time.

Pcar
Pcar
4 years ago

Who’s to blame for the over paid GPs we can’t afford?

Blair as usual with virtually everything FUBARED from Armed Forces to Zoos

Pat
Pat
4 years ago

It should be noted that the BMA has been successfully lobbying to restrict training places for generations – thus producing a chronic shortage of doctors who are therefor able to command higher pay.
Mr. Brown’s tax on pension pots has encouraged many to retire early, this exacerbating the problem.
Half the training places now go to women, who are far more likely than men to take time off and/or work part time.
I don’t recall the G protesting about any of this.

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