What Happens When You Take Away the Incentive for Innovation
There is no incentive for innovation: all new technologies are generally more expensive than traditional methods, and, because of their cost, they are unlikely to be used. Innovation breeds advancement. It also provides income enhancing opportunities for neurosurgeons who develop new instruments and new procedures. No more.
When a smart, talented young person is thinking about their future and they know they have a love of science, part of their decision making process involves the lifestyle they can provide for themselves and their family. So chances are they will not choose the path towards practicing medicine. But if medicine does not suit them, and they are interested in technology, they might have previously chosen to work on medical devices or pharmacology. No more though. Because when a company is looking to develop new technology and there is no American market for that technology since they cannot sell into the U.S. at a profit, that advancement will not become available here. That being the case, there will be no big salaries for Americans interested in working for those companies.