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Supplement: The Future of Generalism in Medicine: Mark D. Schwartz, William T. Basco, Jr, Michael R. Grey, Joann G. Elmore, and Arthur Rubenstein Rekindling Student Interest in Generalist Careers Ann Intern Med 2005; 142: 715-724 [Abstract] [Full text] [PDF]

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Employ the Invisible Hand

Stuart Oserman   (16 May 2005)

Employ the Invisible Hand 16 May 2005
Stuart Oserman, MD FACP Advocate Lutheran General Hospital Send rapid response to journal: Re: Employ the Invisible Hand stuart.oserman{at}advocatehealth.com Stuart Oserman	Schwartz et al offer many constructive suggestions to stimulate medical student interest in generalist careers. However, I offer an additional idea. Mobilize the invisible hand of Adam Smith toward elevating internal medicine, pediatrics, and family medicine on students’ ranking lists for the matching program. Simply increase the salary for residents in these specialties. Free market economics uses price changes to signal variations in supply and demand. There is no real justification for the tradition of paying residents equally, regardless of specialty. Loan forgiveness programs are also desirable, but the reward comes too far into the future. Also, the signaling effect of a significant variation in resident salaries among the specialties should not be underestimated. Conflict of Interest: None declared