I'm starting to think that while growth in the healthcare sector is good for the economy in the current jobs crisis over the long run it is not ideal. Here is Ryan Avent in his book The Gated City:
(People are) moving to places where job growth is heavily concentrated in non-export industries with very low productivity growth: largely health care and education.
It is less likely to innovate and as Sarah Kliff points out, with 1 in 5 people moving into the profession we are less likely to stem the debilitating cost growth in the health care sector. What I am personally worried about is that this going to draw highly intelligent, productive members of our society away from densely populated, highly productive regions of the country (New York, San Francisco, DC & Boston) to less desirable, sprawl ridden areas of the country. Drawn away to fill jobs, while very much needed and admirable, that will give little in the way of innovation and economic growth. These individuals would be better suited working in a densely packed metropolis with a multitude of biotech, pharmaceutical and health research firms to feed off of and innovate. Not parts of the countries whose greatest claim to fame is the availability of cheap land.
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