The above two posts pretty much sum up the two sides of the argument to me.
Highfive makes the "supply and demand" case. Based entirely on cold logic but without what we, as the labour providers, like to cause morals and fairness.
Directbondi takes the "fair days pay for a fair days work" approach. Again with plenty of logic although this time with some added humanity.
However, what happens when we as the labour providers find ourselves with the proverbial boots on our proverbial feet?
I don't recall seeing a single comment suggesting we as pilots should cap potential earnings in the Far East. "Quarter of a million dollars per year? Absoloutly, seems reasonable to me. Well, there's a reason they pay so much, no-one would do it otherwise".....or something along those lines.
If, in some parallel universe, Europe did suffer the long predicted pilot shortage would we turn down telephone number salaries the airlines would beg to pay us?
Sounds like the other side of supply and demand to me. Whilst I acknowledge that some airlines are taking everything they can now, I'm not sure we would behave any better.