Yes, I realize that the American Medical Association and the American Nurses Association are distinct entities. However, their anticompetitive practices are very similar
It is true that we have seen a significant increase in the number of medical students. If you throw in osteopathic students, the number of first year medical students actually exceeds 30,000. However, the number of medical school applicants who have the talent to succeed in medical school vastly exceeds 30,000. This is demonstrated by the low rates of acceptance of med school applicants from states that don't invest in medical education. Furthermore, the price of medical school is vastly greater than its underlying costs. See this interview:
A resident physician investigates the causes of skyrocketing tuition
blogs.scientificamerican.com
Furthermore, the number of medical residency slots is artificially low. There are 900,000 hospital beds in the U.S. and approximately 30,000 new graduates annually begin residency programs leading to board certification which leaves a ratio of one new resident for every 30 beds. In the Henry Ford System in southeastern Michigan, there are 230 new residents every year in a system with 2,300 beds. That's one new resident for every 10 beds. If every U.S. hospital system had the same ratio of beds to residents that Henry Ford has, we'd have 90,000 new residents per year. Why does Henry Ford have so many slots? It's cheaper to train a resident than hiring an NP. A note by Chandra, Khullar, and Wilensky in the June 19, 2014 edition of The New England Journal of Medicine addressed the growth of residency slots. The three authors made a solid case that the number of residents has grown in spite of the 1997 budget deal because medical residents pay for their own training by the delivery of services to patients.
The salary you are paid is a reflection of the market. You aren't a slave. You can always go someplace else to get a better deal.