What Tech-Worker Shortage?

The shortage of tech workers isn't real and can be attributed to a failure by employers to boost pay and politicians' unwillingness to allow more high-skilled immigrants.

Not exactly an endangered species.

Photographer: Andrew Harrer/Bloomberg

In economics, I learned that a shortage is when demand exceeds supply. People want to buy Goldfish crackers at the posted price, but the shelves go empty. I was also taught that the only way that this happens is when something stops the price from adjusting -- a price-control law, perhaps, or the difficulty of printing out new prices for the shelves. Normally, I was told, the store would just raise the price until the last package of Goldfish is so expensive that no one can afford it, and there would then be no shortage.

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