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That seems a pretty bold claim to make that doubling salaries would only raise supply by 5%. During the tech bubble people were coming out of every nook and cra
by drpgq 14y ago
That seems a pretty bold claim to make that doubling salaries would only raise supply by 5%. During the tech bubble people were coming out of every nook and cranny imaginable.
- Volpe 14y agoYeah... but they weren't producing anything, which caused the crash.
- muzz 14y agoNo, what caused the crash was that there was no bigger fool to sell overvalued stock to. Engineers coming out of the woodwork were simply responding to the economic incentives that existed for them (and that's the problem with bubbles, it's that incentives get distorted).
- argonaut 14y agoI'm sure d2vid was exaggerating, but engineering labor supply is most certainly inelastic.