Provably false. You don't even have to look far -- there is no "labour shortage," what there is a shortage of is "desperate people and suckers." That has not led to higher wages, only enough for people to bite.

If there was balance, then you'd be getting paid your labour's worth, which would never happen as that's where all the money lies. You might have a good product, but if nobody assembles it? If nobody makes the parts? If nobody makes or maintains the machines that assemble the parts? Nothing, and therefore, no value.