Sounds like a problem that's sorting itself out. There were far too many people who wanted to be doctors; maybe if the supply drops the medical industry might have to - gasp - do something about their working conditions, or even pay more.
Actually, the problem is not that no-one wants to become a doctor, the issue is that there are too few open places in the medical schools. If it's due to lobbying by doctor's organizations or just bad planning by governments or something else I do not know. In all countries I have some visibility into there is no lack of people wanting to attend medical school and there are qualified applicants in the order of 100 to 1. And there is an accute need of doctors (and nurses) in those countries.
And regarding doctor's pay, I do not necessarily agree that it is too low, but I agree the salaries for software engineers is too high in many regions, particularly in the US, and certainly on the west coast.
And to nuance my comment on doctor's pay, I think it is important to note that a doctor has to study and practice in a hospital for about a total time of 10 years before graduating as an MD and start earning a decent salary. Thus many years of lost salary if comparing that with an engineer, and even more if comparing to someone just taking a couple of years of programming courses.
The problem doesn't seem to be sorting itself out. On the contrary, it's making access to people like him even harder for all but the top 1%.
If doctor salaries were to go even higher, it would mean that people like my maid would never ever get even half-decent medical care.
The solution would be to pay the maid more, but there's an oversupply of unskilled labor and any attempt to increase their wages would be thwarted by a flood of new labor supply.
That's interesting. What's unskilled about them? Could they not also learn some coding and marketing. Sounds like a worthwhile investment if they might 50x their salaries.
(In fact, with those numbers, even if it takes them 30 years it would still 10x their life earnings...)
The… misstep in reasoning here seems to me to consider that « maid » (and many other low-wage ones) is unskilled labor and/or painless, thus « deserves » lower wages.
I can say from witnessing it first-hand that not 1 in 10 of those high-profiles engineers or managers I have met are not at all equipped to work as a maid.