[bostonsre]

> Not to mention that there is an upper limit on supply of labor in almost all markets.

You don't think the hundreds of thousands or millions of workers that work at jobs like an Amazon warehouse and make 15/hour would switch to being truck drivers for 500k/year? My job is easy but shit, I would seriously contemplate becoming a truck driver for a that much.

It's supply and demand. Supply is low, increase pay and supply increases.

[aahortwwy]

Do you know how to drive a truck? I don't. It takes time to learn. Increasing wages for truck drivers doesn't make it faster to learn how to drive a truck.

> It's supply and demand. Supply is low, increase pay and supply increases.

And demand decreases. But sometimes demand _can't_ decrease, and that's another source of shortages.

If there's not enough food to go around you can't just raise prices to solve the problem (well, you can, but it's not really an acceptable solution).

Point being, shortages are a real thing.

See also: HN's favorite topic, housing in the Bay Area.

[legulere]

There are a lot of people with a truck driving license that work in other fields. With good incentives you could get them to become tricky drivers again.

[dragonwriter]

> Supply is low, increase pay and supply increases.

“Supply” is the function mapping price to quantity supplied. With normal shape of a supply curve of a good or seevice in an idealized Econ 101 economy with no sharp supply constraints but the usual increasing marginal costs, increasing price increases quantity supplied.