The AMA does work rather nicely for physicians, but it&#x27;s less clear that it works nicely for patients. There&#x27;s a strong argument to be made that the USA suffers from a chronic undersupply of physicians, and that certainly boosts doctor pay but it comes at the cost of patients having to pay higher prices for poorer quality service.<p>The AMA also has the advantage of being an incumbent. If we were to hypothesize a similar national organization for American academics that was attempting to follow a similar strategy, their first problem would be how to generate the artificial undersupply that allows members of its profession to enjoy such a favorable job market in the first place. I&#x27;m guessing anything that accomplishes that goal more quickly than waiting for a market correction would, would end up being a pretty painful experience for the large number of folks who find themselves forcibly shoved out of academia.