Not necessarily true. The market has not factored in social safety nets, human nature, etc, yet. And it can’t because they are not market-dependent.
An example: when the Zionist movement occurred there was a guy named Aaron Aaronson. When Jews were moving back to Isreal, he was instrumental in understanding hydrology to be able to water the desert. Fast forward a bit and the need for labor came about to manage the new crops, etc. . Many Arabs came to work, but Aaronson found that once the workers made *just* enough to make a living, they stopped work and went home for the day/week. This did not fulfill the labor demands, and it frustrated the living shit out of the farmers. The result is that more Jews filed in the gaps, making the money and increasing their lifestyles and success. This bred jealousy and contemptment between them and Arabs demanded that Jews pay some of their wealth to the local Arab sheiks, etc.
The point here is that even when incentivized by money and a ”better” life, some people still do not rise to the occasion because of the extra effort to get at the money or other factors. When money is not the be-all end-all, waving more of it doesn’t do much. If a person values their free time over a new car, money means nothing. They have all they need. We are in a world now where people have been convinced they can have it all - just like all those people they follow on Instagram. It’s hyper reality, and it’s false.
When a business cannot find workers (like a local Argentinian restaurant willing to pay $18 an hour), simply cannot tempt people out of their slumber because to them a shitty car, split rent, their cell phone and a few beers on Friday is all they need, the problem is beyond the ‘market” to solve. There are many factors working at once here. Creating a large number of people who are liabilities via social hammocks has no positive ending.
And the drought in workers isn’t in big business. It’s smaller business that can’t offer stocks or ownership or huge benefits plans.