[prepend]

I think because labor is a market and markets are driven by supply. If there’s millions of programmers, wages will be lower.

Just basic, hundreds of years old thinking from Smith’s Law of Supply and Demand [0].

There’s likely lots of specific reasons but they all boil down to some form of supply and demand.

[0] https://www.investopedia.com/terms/l/law-of-supply-demand.as...