Of course this is more or less always true - there are only shortages or excesses of things when prices don't or can't adjust freely.
If there was 1 gallon of water left on earth, Bill gates would buy that gallon for $50 billion, and everyone else would die of dehydration.
There has always been a shortage of maids willing to do all my house work for $10.
And there is a shortage of data engineers at $x, but there wouldn't be a shortage at $1M/year (because less companies would want one, and more people would be willing to do the work).
If there was 1 gallon of water left on earth, Bill gates would buy that gallon for $50 billion, and everyone else would die of dehydration.
There has always been a shortage of maids willing to do all my house work for $10.
And there is a shortage of data engineers at $x, but there wouldn't be a shortage at $1M/year (because less companies would want one, and more people would be willing to do the work).