Cutting the pay of doctors would reduce the number of people who become doctors, because while many would remain for non-monetary reasons, millions more are marginal entrants who would choose other professions like law; this shows money matters at the margin even when people aren't primarily money-motivated.

causalpending

Speaker

Garrett Jones

Evidence Quote

there's millions more who would become lawyers who are just willing to be a doctor at the current pay rate

Source

Garett Jones on Macro and Twitter 02/22/2010EconTalk
Created: 6/17/2026, 10:31:36 AM

My Notes

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