Do you really think you know what is more productive and what is less better than the market?
The market is not what decides which skillsets are over-supplied and which are under-supplied. The market merely reacts to this over- or under-supply by adjusting salaries.
What decides which skillsets are over- or under-supplied is a whole lot of students, fresh out of high school, deciding which career(s) to pursue. If more of them decide to pursue a career in television than there is demand for careers in television, then the market-clearing price for careers in television will drop; possibly even to below a living wage. (The market does not care about whether people live or not). On the other hand, if virtually nobody wants to pursue a career in (say) medicine, then those few who do will be able to earn vast amounts of money… but they will not be able to provide medical care to everyone, which would be a bad thing.
Personally, I find it easy to believe that ChristianKi is better at predicting which careers are productive than an average student just out of high school.
The market is not what decides which skillsets are over-supplied and which are under-supplied. The market merely reacts to this over- or under-supply by adjusting salaries.
What decides which skillsets are over- or under-supplied is a whole lot of students, fresh out of high school, deciding which career(s) to pursue. If more of them decide to pursue a career in television than there is demand for careers in television, then the market-clearing price for careers in television will drop; possibly even to below a living wage. (The market does not care about whether people live or not). On the other hand, if virtually nobody wants to pursue a career in (say) medicine, then those few who do will be able to earn vast amounts of money… but they will not be able to provide medical care to everyone, which would be a bad thing.
Personally, I find it easy to believe that ChristianKi is better at predicting which careers are productive than an average student just out of high school.