He suggests that the panics that ensued frequently lead to boom and bust cycles that are not healthy for scientific research, nor for the economic well-being of scientists and their research institutions. Nonetheless, claims of  "shortages" of scientists and engineers continue to be strongly promoted by industry lobbyists and others.
He argues that the crises that frequently occur often lead to unhealthy cycles of boom and bust, which are detrimental to scientific research and the economic stability of researchers and their institutions. Nonetheless, assertions of "shortages" of scientists and engineers continue to be vigorously advocated by industry lobbyists and others.