Tag Archives: economy

Doctors defined from economic point of view

Doctors are women and men who have studied years and years, gathering the best knowledge available to help you solve health issues whenever those arrive, right? Well, yes of course that is a good definition (and I’m absolutely thrilled that they are there and do just that), but it does not cover all possible angles.

Let’s for example try to come up with addtional definitions for some subcategories of the medical profession, from an economic perspective:

  • medical specialist: someone who will only make some decent money if whatever is wrong with you is caused by something related to her/his specialty
  • surgeon: someone who only makes money if (s)he can cut you open
  • plastic surgeon: someone who stops earning money when you look perfect
  • psychiatrist: someone who stops earning money the minute (s)he utters the words “There is nothing wrong with you.”
  • general practitioner: someone who will only keep earning money from you if (s)he consistently provides you with the correct diagnosis

OK, admittedly that’s all a bit over the top (except for the last one), but still it can be a very useful dimension to keep in mind when seeking medical advice.

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Picture from Images Money's photostream on Flickr

Picture from Images Money’s photostream on Flickr

Have you ever heard of helicopter money? The term comes from an image the economist* Milton Friedman used to in a theoretical discussion of what would happen if you simply inject extra money into an economic system (whereby you would throw it out into the streets from a helicopter). There are several ways you could increase the amount of money, and one of them you will probably already have heard of,  Continue reading