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Of course there is scarcity - not everyone has as many software engineers as they want. That's true even if people who left software come back. Again, you igno
by yummyfajitas 10y ago
Of course there is scarcity - not everyone has as many software engineers as they want. That's true even if people who left software come back.
Again, you ignore the fact that if an Americans wants a cheap foreign education, they can buy one. The difference between $0 in loans and $5000 in loans is negligible.
- ryandrake 10y agoScarcity only exists at a price. When the prices is higher, the scarcity goes away. If I only want to pay $10,000 for a new car, and I can't find any, then is it fair to say that I am facing a shortage of Mercedes?
- yummyfajitas 10y agoYou are conflating the concept of scarcity and shortage. They aren't the same thing. Scarcity = not everyone who wants something can have it. This means that some sort of rationing mechanism must be used (e.g. price) to distribute that thing. Shortage = the price of a good is $X but not everyone willing to pay $X will receive the good. Shortage is a market condition, usually a symptom of a broken market. Scarcity is just a fundamental fact of counting. It is not fair to say there is a shortage of Mercedes, but it is fair to say that Mercedes are a scarce resource.