Most thought that a bachelor’s degree was the ticket to a well-paid job, and that the heavy student loans were worth it and manageable. And many thought that majors such as social science, education, criminal justice or humanities would still get them jobs. They didn’t realize that the jobs that could be obtained with such credentials were the nice-to-have but nonessential positions of the boom years that would disappear when times got tough and businesses slashed costs.
Some of those recent graduates probably didn’t want to do, or were intellectually incapable of doing, the hard work required to major in science and engineering. After all, afternoon labs cut into athletic pursuits and social time. Yet that’s where the jobs are now. Many U.S.-based companies are moving their research-and-development operations offshore because of the lack of scientists and engineers in this country, either native or foreign-born. (emphasis CJ's)Apparently, Mr. Shilling is an economist of some moderate repute, which makes that sentence even more galling.
It's a remarkable shame that the "scientist shortage" meme has spread so thoroughly through our elites. If only a scientific society, say, the largest one in the world, had the bully pulpit to attempt to refute such fairy tales. Alas.