Well, the quality of applicants might be going up every year......but I have read that the quality of applicants to college as been going up as well. This thrend can be seen by the number of students getting higher standarized scores and taking honors/AP courses. I've heard that since the baby boomer's kids are going to school en mass, there is an influx of applicants to college, which is leading the trend to a more competitive applicant pool overall.
So I think the upward trend may have less to do with medical school, and more to do with the general trend toward increasing standards at colleges.
As for shortage of physicians......my personal opinion is that when you have physicians controlling the number of MDs produced, it's only logical you will see an artificial shortage of doctors. And when something as vital as doctors are in short supplies, society will find other ways to compensate. DOs and mid level practioners seem to be filling the job that MDs were suppose to fill but didn't due to the artificial barrier erected by physicians to maintain a shortage of doctors.
Just curious, does anyone else besides physicians have any say in the number of slots at med school? Seems to me the perfect way to create a shortage is to allow a group to solely regulate it's own numbers..........