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That's an economic definition. A more common understanding of shortage includes conditions where the price rises beyond what I can afford. If I can't afford bee
by ams6110 8y ago
That's an economic definition. A more common understanding of shortage includes conditions where the price rises beyond what I can afford. If I can't afford beef at $10/lb but the supply of beef commands that price, I will perceive that as a "shortage"
- imglorp 8y ago> beyond what I can afford No, it's not usually "CAN afford", it's more like "beyond what I WANT to pay". Eg Apple has $245 billion in cash. Instead of offshoring the production AND the cash and then gaming the H-1B supply [1], they could be exploring education, infrastructure, and training, per credit_guy's observation above. We also need to discourage offshore tax havens. 1. https://www.networkworld.com/article/3196711/careers/us-law-allows-low-h-1b-wages-just-look-at-apple.html https://www.networkworld.com/article/3196711/careers/us-law-...