Grad students don't have that kind of debt in Europe due to public funding of Education papajohn.
As for research - Karolinska Institute, Imperial, Cambridge and Oxford have some of the best medical research institutes on the planet.
As any prof at Top Tier Medical Schools - Stanford, Hopkins, Harvard or Yale - and they will agree.
As you're well aware, Karolinska academics decide the Nobel Prize in Medicine each year. Cambridge churns out some of the best quantitative minds - consistently - that the world knows. Imperial too, which can compete with MIT or Caltech.
No one is saying that well paid doctors shouldn't make money - millions either.
However, where in the hypocratic oath does it say doctors should be concerned principally about money?
All this bullshit talk about economic theory from people who don't have
any credentials at best and is not supported by any data at worst.
There are absolutely and fundamentally externalities involved with Healthcare. That among many other issues supports some government intervention.
Besides the fact that anyone who is becoming a doctor just because of the profit is in the wrong profession.
An exotic interest rate options trader makes just as much money as a cardiologist, urologist or neurosurgeon. Try that profession if profit is your only motive.
Lastly, I there's plenty of private care in Europe and no one is advocating not having private care.
However, things like education, healthcare...for goodness sakes, if other wealthy, civilized western countries can provide those basic things for the people who can't afford it, why can't the USA?
Half of the world's top medicals are publically funded. The gov't supports public education which means that students don't have to take out debt and can hence work for public hospitals and still not be in debt.
Also, alot of people from working class backgrounds who would probably never make it to medical schools in up there.
Here's is verifiable data to back up my contention:
Times Higher Supplement in the UK ranked of the top 100 world biomedicine
Here is the top 20:
1) Harvard (US)
2) Cambridge (UK)
3) Oxford (UK)
4) Imperial College London (UK)
5) Stanford (US)
6) Johns Hopkins (US)
7) Karolinska Institute (Sweden)
8) Yale (US)
9) UC Berkeley (US)
10) UCSD (US)
11) Beijing (China)
12) MIT (US)
13) Tokyo (Japan)
14) Melbourne (Australia)
15) Sydney (Australia)
16) Heidelberg (Germany)
17) Duke (US)
18) UCSF (US)
19) University College London (UK)
20) Toronto (Canada)
40+ million americans walking around with less healthcare affects me as a business person. It means I have less healthy people to hire. If an employees' kids get sick it means they have to take off work. American business people are at a disadvantage compared to their European counterparts.
Do you know how expensive it is to try to provide coverage for just a few employees??
The costs not being internalized affects everyone not just the individual man or woman not insured....
If you are a graphical person, one could look at it llike this:
Q.E.D.