The NSF study projected a shortfall of 675,000 scientists and engineers without considering the future demand for such individuals in the marketplace. It simply observed a decline in the number of 22-year-olds and projected that this demographic trend would result in a huge shortfall. This could be termed the supply-side theory of labor market analysis. But making labor market projections without considering the demand side of the equation doesn't pass the laugh test with experts in the field.
Howard WolpeThe NSF study projected a shortfall of 675,000 scientists and engineers without considering the future demand for such individuals in the marketplace. It simply observed a decline in the number of 22-year-olds and projected that this demographic trend would result in a huge shortfall. This could be termed the supply-side theory of labor market analysis. But making labor market projections without considering the demand side of the equation doesn't pass the laugh test with experts in the field.
Howard Wolpe