You are saying shortages do not exist in a perfect market. I agree with that, no persuasion required. However, I am saying that shortages exist because our mar

You are saying shortages do not exist in a perfect market. I agree with that, no persuasion required. However, I am saying that shortages exist because our market is imperfect. Given the axioms of a perfect market, ours is absurdly inefficient: * Homogeneous supply of products: No. there are huge disparities in skill and personalities. Evaluating quality is very challenging. * Perfect Information: No(ish). glassdoor/blind are improving transparency but pricing / performance information is still suppressed. * Low barriers of entry: No. People cannot enter this market without large personal investments (which many lack). * Minimal externalities: No, all of my posts here were focused on externalities... especially ones that raise the barrier of entry. * Zero transaction costs: No, it's expensive to change jobs and businesses expend lots of money searching for quality candidates. * Rational profit-motivated sellers: No, candidates do not seek to maximize profit. Less profitable offers are accepted based on location, ethics, social status, peer network, business domain, tools, or even just not caring to negotiate. * Rational buyers: ehhh ... employers have rational intent, but do make unprofitable decisions due to low and inconsistent quality (less of a concern for those that pay the highest rates). As I described earlier, these imperfections harm related systems and markets. My suggested path back to an ideal market was public education and infrastructure investments.