Is U.S. Facing A Serious Shortage of Airline Pilots?
https://news.slashdot.org/story/18/0...airline-pilots
If this is, indeed, a classic case of "low supply and high demand," I have difficulty understanding why the normal functioning of labor markets won't [eventually] solve this problem. If there is a true "low supply" of qualified pilots, common sense would dictate that the salaries of these pilots should rise dramatically. If there is a true pilot shortage, airlines will have no choice but to raise pilot salaries - either that or they start rationing flights! (Passenger ticket prices should also rise to offset the increased cost of scarce pilot labor.) As pilot salaries rise, the increasing compensation should have the effect of attracting more and more "new" pilots. Eventually, the higher salaries will attract enough new pilots to effect a stable equilibrium between supply and demand. I wonder if the real problem is not a "shortage" of qualified pilots, but a shortage of airlines willing to pay pilots a competitive wage?
Maybe this is an apples and oranges comparison, but I've noticed that there is no shortage of professional baseball players, professional football players, professional basketball players, professional hockey players, and even "professional" poker players! It's easy to understand why there is no shortage of professional athletes. I don't know exact numbers, but I suspect the average salary of NFL, NBA, MLB, and NHL players is [at least] in the six figures! Paying those kind of wages, it's easy to see why there is no shortage of professional athletes.
EDIT: Browsing the reader comments appended to the Slashdot post, it appears there are "other factors" I hadn't considered ...
Last edited by Former DJ; 07-19-2018 at 04:28 AM.