Labor shortages are good

American companies are running out of workers. From oil drillers in West Texas to restaurants in New England, companies are telling reporters they can't find enough people to fill job openings. We're told this will result in unfilled orders, untapped markets, and ultimately slower economic growth. Allow me to offer an entirely different take: Labor shortages are actually good. Obviously, they're extremely unpleasant for business owners. "We've got the biggest backlog of orders ever,"...