Quote:
Originally Posted by candybar
It's not quite tautological but standard microeconomics suggests shortage in an economic sense (quantity demanded > quantity supplied at prevailing prices) cannot remain persistent unless pricing mechanisms are broken. Shortage is another way of saying that current prices are below equilibrium prices that would balance quantity supplied with quantity demanded. It may sound paradoxical bu saying that there's a shortage of programmers is equivalent to saying that programmers are underpaid.
Yes, thanks. But the bolded is important, along with a number of other complications that can affect supply/demand. Saying a shortage is by definition temporary (or even 'not quite tautological') is as silly as using Newton's first law while ignoring friction. I guess on some scale everything is temporary - so there's that. But given a set of economic/political policies its absolutely possible for a non-temporary shortage.
But whatever. If someone wants to use real data to explain to me why we don't have a skills shortage, I'm all ears. I laid out a number of reasons for why I believe we have one, referencing various sources.
Edit: And of course a skills shortage means the people with those skills are underpaid. But that's missing the point (which I already covered).