Our profession has had its ups and downs over the years. We have seen periods of perceived shortages and excesses of practicing veterinarians. We have moved from a profession of mostly male, large animal practitioners to one of mostly female, companion animal practitioners. The human-animal bond has been better understood and developed so that our pets have moved from the barn in the 1950's into our bed by the 1990's.
In the mid 1970's, the National economy started to slow down while the number of veterinarians continued to increase. Concerns were expressed that too many veterinarians would be produced by the year 2000. In the late 1970's and 1980's some practices experienced reduced numbers of clients and no-growth or slow growth gross incomes resulting in declining net incomes.