Price is driven by supply and demand.This rule applies to pilots too.
When those shiny new airplanes are parked because there is nobody to fly them (rather than no butts to put on the seats), then prices (pay) will go up.
Recently there have been more and more jobs for experienced pilots advertised. But the number of pilots being trained has slowed down. (cost and payback concerns).
It is only a matter of time before the glut is mopped up, and the shortage will put upward pressure on T&Cs.
It happened before, and it will happen again.
I didnt see the fare paying passengers stop flying because fuel prices sent fares up, they just paid the extra and went on flying.
So may be the so-called economic stupidity of the so-called intelligent pilots is just impatience for the so-called shortage to start hurting.
