We talked about this in one of my university classes recently. There's a difference between engineering a solution, and coding a spec. If you only need someone to implement your spec, then why not save money and outsource? Turns out, this has been happening a lot recently. In 2013 36% of CFOs (globally) said, "their firm was currently offshore outsourcing" [1]. I think we're losing that battle because nobody wants those jobs. So, I don't think there will necessarily be an innovation shortage, but there might be a hired hand shortage. I think the point being made though, was that shortages aren't bad if you're part of that limited supply.

[1] http://www.statisticbrain.com/outsourcing-statistics-by-coun...