With European students turning their backs on science and engineering degrees and European higher education of science and technology being partially filled by Asian students, one can see that the YOUNG European engineering candidate supply could become restricted.
LONDON An earlier article, "Analog expertise dwindling in Europe, panel says", reported on a panel which took place at the GSA & IET Semiconductor forum in Munich. It has also been discussed on the online forum at www.eetimes.eu/forums.
Now clearly economic theory dictates that in a closed system as the supply goes down, and if demand remains constant, the price goes up towards an asymptotic limit beyond which it is not worth buying the good or service in question.
But Europe is not a closed system. So what will happen?
Either the salaries commanded by such engineers in this case analog engineers in particular will go up
OR the supply of engineers will be boosted by bringing in engineers from outside Europe, legislation permitting
OR the jobs will move to where the low-cost engineers can be found.
The evidence to date is that in the long-term trend has been for the last of these three options.