Did you ever wonder why teaching hospitals can conduct their medical residency “match” program? And why they can share data and use it to help set wages for residents? And why the match program effectively forbids salary negotiation? The apparent result is that medical residents’ wages have remained flat for about 40 years.
Slate has the story — including the explanation for the above phenomenon, an antitrust exemption granted by Congress. Discuss among yourselves the wisdom of that exemption.