11-13-2012, 09:17 PM
Understandably, there are a lot of anecdotal accounts in this thread, but I don't think it's justifiable to make many conclusions based on that. I wonder if anyone has done in-depth studies of the relevant factors.
Per free market principles, if there is a surplus supply of people with skills that an employer wants, then we are told that the economics of supply and demand means that the wages offered to those workers will go down. But here we have a demand for workers with certain skills that is greater than the supply. So by free market principles shouldn't the wages go up? (I actually have some ideas, but I'm interested in what other people think.)
Per free market principles, if there is a surplus supply of people with skills that an employer wants, then we are told that the economics of supply and demand means that the wages offered to those workers will go down. But here we have a demand for workers with certain skills that is greater than the supply. So by free market principles shouldn't the wages go up? (I actually have some ideas, but I'm interested in what other people think.)