I don't know it, but I sort of take it as a given that the marginal rejectees are going to be roughly as capable as the marginal acceptees. It's not really an aggressive assumption.
And it isn't just an insufficient pay scenario. Hospitals just pass on the high cost of nursing to patients instead of subsidizing training programs. Patients don't see the supply as part of the cost problem and don't demand that more money be devoted to education.
Yes, the feedback mechanisms get
quite complicated because 80%+ of people cannot not afford the level of healthcare that they receive.
But the root of the problem remains the disparity in people’s expectations of the services they will receive with the amount those service providers are getting paid.
And it isn't just an insufficient pay scenario. Hospitals just pass on the high cost of nursing to patients instead of subsidizing training programs. Patients don't see the supply as part of the cost problem and don't demand that more money be devoted to education.