5 ms·
this is a long-run / short run criterion. but it is frankly irrelevant and trumped by the OP's analysis. the shortage of STEMs is a myth. People with those skil
by 001sky 14y ago
this is a long-run / short run criterion. but it is frankly irrelevant and trumped by the OP's analysis. the shortage of STEMs is a myth. People with those skills don't per-se want those jobs. Its like gulf-arabs. They need to import labour to clean their toilets. There is not a "shortage" of skilled labour in the houskeeping sector. At least not in any normal sense.
- chewxy 14y agoIf no one wants to do a job at X price, it is then by definition a shortage. Neoclassical economics suggest moving up the price ladder. But as a comment above mentioned, STEM job supplies are quite inelastic. In fact we should expect it to be inelastic, since STEM jobs require more expertise than say general labour.
- deleted 14y ago[deleted]
- 001sky 14y agono one != not one more there are other options any fixed price x(i): no trade (not one), and equilibrium (no more). If X is floating, the question is different. Then its a question of why X wages are not enough. Its also a question of why the jobs are not made better (not everything is price related, the firm is a hierarchy...). etc.