Az, I have no idea what "warp market structures" means in this context. The point is that, relative to quantity demanded at identical price points, software engineers are rarer than artists. What happens? The price of artists goes down (and the quantity demanded thus goes up) while the price of software engineers goes up (and the quantity demanded goes down). Rarity here is a relative, not an absolute.
Now, there is a secondary point, namely that there is a relatively firm ceiling on the number of software engineers that the world can produce. The great majority of people have neither the inclination nor the innate ability to become a software engineer, so these individuals are somewhat protected by their uniqueness from competition from new entrants. In the long run, if everybody had both the ability and inclination to become a software engineer AND the ability and inclination to become a graphic designer then the prices would equalize, as more people became compsci undergrads and less became graphic design undergrads.
There's no need to appeal to market inefficiency here. Merely the fact that you need to take both supply and demand (or, more simply, the ratio of quantity supplied to quantity demanded) in order to figure out where the prices go.
Now, there is a secondary point, namely that there is a relatively firm ceiling on the number of software engineers that the world can produce. The great majority of people have neither the inclination nor the innate ability to become a software engineer, so these individuals are somewhat protected by their uniqueness from competition from new entrants. In the long run, if everybody had both the ability and inclination to become a software engineer AND the ability and inclination to become a graphic designer then the prices would equalize, as more people became compsci undergrads and less became graphic design undergrads.
There's no need to appeal to market inefficiency here. Merely the fact that you need to take both supply and demand (or, more simply, the ratio of quantity supplied to quantity demanded) in order to figure out where the prices go.
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