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Ah, you are assuming salary increases to compensate. Outside the tech world, the more common result is simply that the caliber of people in the profession decreases.
I'm not assuming that! The market clears, one way or another. ("I wanted to get paid in status, but instead I got extra job security!")
Even if I grant that premise, it's not an instant or frictionless process.
Of course. Life is certainly not Econ 101.
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