Talent shortage?

This seems to be a global theme of sorts.

Western cos want managers from developing coutries to manage overseas businesses the local way

The Chinese need managers who can speak english

The Japs need managers who can shake up the family-like, lifelong employment system

Indian fimrs need managers to handle thru-the-roof growth

Fortune mag, Best employer surveys, CEOs, Peter Drucker... everyone is talking about the shortage of quality managerial talent

Which makes ppl like me go 'W-T-F?!' We have like a dozen-odd B-Schools that are considered 'category-A' and produce 200+ young guns each year. No one seems happy with the work they are doing, wat they are being paid and the career paths they see.

Now I remember reading something in Eco-1 that implied prices change and demand-supply converge to match over time. There are grads demanding good jobs and there are cos that crib abt shortage of talent. One would expect salaries to rocket (which they seem to be doing) and the situation to improve. Yet both sides do not appear happy now.

I wish i could explain the whole thing and come up with a solution. But im just confused and perplexed like everyone else. Perhaps some 'veer consultant' can do some structure, MECE and other fancy stuff that consultants do with any-and-every problem, and come up with some hypothesis to explain the situation. And suggest a solution. Would like to debate and discuss it.

If no one else does, and i hv enough idle time at hand (should not a problem) and sufficient enthu (always was a problem!), i will come up with my own hypothesis. And i really would like this to develop into a good discussion thread. (This messy post is not a good first step, nor i am a famous blogger like Rashmi. But will give it a shot anyway)