Some things that don’t help are the artificial restrictions on building new medical schools, the difficulty of becoming a doctor in America if you were trained in a foreign country (even a developed country like France), and union-style laws that prevent nurses from doing routine procedures reserved only for licensed MD’s (even banning certificate programs).

Same reason gold costs a lot: many people want it and there's limited supply.

What? High demand made a degree skyrocket to $300,000? Half of Europe provides free education and doesn’t have a quarter of a million cost per student even close.