News for hackers. Stuff that matters.
Re:WSJ: H-1B Visas Keep Down U.S. Tech Wages, Study Shows by dragonwriter on Tuesday March 14, 2017 @04:46PM (#13871319)
> I'm pretty sure the word shortage already implies that there is a shortage at the market price

"Shortage at the market price" seems to be a somewhat incoherent concept. The market price is the price point at which the supply and demand curves intersect. Other than a discontinuity in either supply or demand such that the curves pass without intersecting (which makes the market price ill-defined), demand equals supply at the market price.

Re:WSJ: H-1B Visas Keep Down U.S. Tech Wages, Study Shows by Eridrus on Tuesday March 14, 2017 @05:58PM (#13871852)
I agree that it's poorly defined, but I would argue that a shortage at the market price implies that buyers would buy more at the market price if more of it was available.

We're pretty comfortable talking about shortages in consumer markets when we would buy things at the stated price, but can't because it is sold out (eg Pixel phone shortages), so I'm not sure why we can't say a similar thing about labour.

Re:WSJ: H-1B Visas Keep Down U.S. Tech Wages, Study Shows by dragonwriter on Tuesday March 14, 2017 @07:40PM (#13872560)
> I would argue that a shortage at the market price implies that buyers would buy more at the market price if more of it was available.

That can just be a current price below the equilibrium market price; I'd argue that a shortage is a specialized instance of that resulting from a transitory decrease from long-term supply (or increase from long-term demand) that is expected to revert to normal.

But if you need annual supplements of labor for the same field over a period of decades, that's not a labor shortage, its price being artificially suppressed (and inhibiting market signals that would develop domestic supply faster.)

Re:WSJ: H-1B Visas Keep Down U.S. Tech Wages, Study Shows by dllthomas on Tuesday March 14, 2017 @11:11PM (#13873533)
> But if you need annual supplements of labor for the same field over a period of decades, that's not a labor shortage, its price being artificially suppressed

Theoretically, couldn't it also be that demand is consistently growing faster than anticipated (even after whatever corrections are made upon discovery that it previously grew faster than anticipated)?