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There isn't a STEM shortage, STEMs are just expensive. If you don't have enough STEMs you can steal them from another company by paying more. If your company cannot afford the labor it will die, STEM or not.

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Demand and supply dictates that if a product is expensive that's equivalent to there bring a shortage of it.

Which explains the critical shortage of Ferraris in my driveway.

Is there a shortage of cruise ships? Perhaps cruise ships require many man hours and not-abundant resources to make. Perhaps software engineers require many man hours to make and intelligent people with a passion for computer science is a scarce resource.

We can say "there is a food shortage" because a certain amount of food is necessary for a society to survive. The same can't be said of software developers.

Also, if you argue a high price means it is scarce, does that mean there is a shortage of hedge fund managers and CEOs?

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