Earlier quoted context omitted.
It's tempting to think that the job market works that simply. However, it takes at least 10 years to train a good scientist / engineer. Waiting 10 years is a luxury. Moreover, people who choose a career based on earning power tend not to be talented or creative. In other words, people who would be attracted to Science / Engineering if the salaries would rise a bit are exactly the kind of people that make mediocre sci…
Link, please. I think you are painting with too broad a brush. Many people are attracted to many things, and economics is one of the factors they use to discriminate between them.
Just raising salaries is not a path to get more great engineers. More mediocre ones, yes. I think there is a hard limit in the general population on how many good engineers it can produce.