> Cool sounding jobs are competitive Cool sounding jobs (e.g. actor) have an over-supply of labor because people are attracted to it on the basis of either pas

> Cool sounding jobs are competitive Cool sounding jobs (e.g. actor) have an over-supply of labor because people are attracted to it on the basis of either passion or prestige instead of expected earnings. This drives down wages unless there's a regulatory body that artificially constrains supply (e.g. the case with surgeons). There's an under-supply of tradespeople because it's gritty work, not very high prestige, and rarely lines up with anyone's passions. This drives up wages. It's also a very difficult thing to scale due to geographic and other constraints, so it doesn't have a winner-take-all dynamic. The result is many a large number of tradespeople that each get compensated very well.