An interesting fact

I’m currently rereading The Social Transformation of American Medicine by Paul Starr.  Amazon tells me there are only 19 copies left! Yikes!

Here is an interesting fact from that book:

The total investment necessary to enter medical practice in 1850, including direct expenses and opportunity costs probably ranged between $500 and $1,300, depending on the degree of schooling.

Starr does some calculations in order to come up with this estimate including looking into the average costs of a horse and buggy at the time ($200-300) and estimations of the opportunity costs of the schooling and apprenticeship.

Last year, CBS news estimated that it costs on  average $1 million to become a doctor today.


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