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Missed Opportunities in U.S. v. Microsoft
Chin is currently an associate professor teaching antitrust and intellectual property law at the University of North Carolina. According to his faculty biography, Chin also earned a doctorate in computer science in 1991 as a Rhodes scholar at the University of Oxford. After a few years of teaching math and CS, he picked up a J.D. at Yale Law School, and eventually ended up working behind the scenes on the Microsoft case.
Chin's article raises some new points about the Microsoft case that don't seem to have been considered by any of the parties, courts or commentators during the trial, such as the fact that the Windows and Internet Explorer software products actually consist of legal rights and technological capabilities, not lines of code. A longer piece by Chin is being published in the Harvard Journal of Law and Technology."
Until a president has the balls to say that doctors, hospitals and parms are EXTORTING the American public and make laws to stop them it will not change.
Disclaimer: My wife is a doctor
Okay, let's just take a quick look at some numbers:
From the UAW a UAW represented assembler makes $25.63/hour straight time. This translates to over $53k/year assuming no OT. To my knowledge (quite possible wrong) to obtain this job, you need only a high school diploma. They report post inflation annual raises (from '92-'02) of 1.28%. Average college costs ~$20k (average of public and private, exclude out of state) and is rising by 7% each year. In 1999 med school cost ~$18k (again taking a conservative average), I couldn't find numbers for the annual increase, but given the costs we incurred, 7% is a reasonable number again. Books add even more, to the tune of ~$4k across the first two years. Let's look at a doctor's income stream vs. a UAW assembler assuming they are the high school class of 2003:
First year out of high school, -20k vs. $53k
second, -21.4k vs. $53.7k
third, -22.9k vs. $54.4k
forth, -24.5k vs. $55.1k
Onto medical school we go!
1st year, -25.6k (no inflation for books) vs. 55.8k
2nd year, -27.2k vs. 56.5k
3rd year, -27k (assume no more books) vs. 57.2k
4th year, -28.9k vs. 58.7k
Time for residency, pay based on my wife's:
1st year, 31k vs. 59.5k
2nd year, 31.5k vs. 60.2k
3rd year, 32k vs. 61k
OK, now our doctor is ready to go out and start making real money....where do they stand finacially?
-$83k vs. $567.9k
Most of my wife's medical school friends enter residency with school loan payments to the tune of $1,200/month, basically a second mortgage. So now our doctor gets to go to work. Care to guess how much this doctor is going to get paid for seeing a child on medicaid? $7. Yes, that is right, they will get the princely sum of $7 to see that child for a 15 minute visit. That will probably not cover the cost of the people they must hire to file the paperwork to get paid. That works out to $28/hour while our assembler is now earning $29.48/hour (this is an inflation adjusted number, that means the real number will be much higher since 1% inflation is pretty darn low!). Who was it that was extorting whom? Does that auto worker go to work every day knowing that they could get sued and have everything except their house taken from them (my wife was threatened with lawsuits 3 times as a medical student for Pete's sake! Care to guess how much her malpractice insurance premiums are estimated to be? Over $20k/year.)? Yes, doctors can get paid well, but I would say in many respects they have earned it a lot more than others.
I'm sorry for this rant, but people who just spout off like doctors in general are super greedy really irk me (for obvious reasons). The people you need to be more concerned with are the insurance companies (basically profit generating machines from my perspective) and the lawyers (who make my wife live in constant fear that we will have everything taken away from us someday...oh wait, we get to keep the house and its mortgage).