I too agree that a pilot shortage is coming and may already be here. I am not sure this will result in higher pay. I am concerned that qualifications will continue to drop until the airlines will train you from day one. (Hmmm MESA?) Will change come after a high profile accident?
This seems to be the way our govt and industry work. Here's the deal though. Flying is easier than ever today. (Skyhigh, feel free to chime in anytime now) It no longer takes any great skill or experience to stay out of the trees. And, there is a history of experience, not saving the day. VERY experienced crews have been involved in senseless accidents, Delta DFW and AA in South America come to mind. Does experience really mean safety? I believe so but accidents like the two mentioned above speak differently.
So, will the fortunes of pilots change if and when there is a high profile accident? I doubt it. The bottom line will be the determinant factor. When it becomes cheaper to pay more to pilots than it is to cancel flights, pilots will get a raise. Hopefully that day is coming fast.