It's really unfair to lump adjuncts into this pool. They are forcing themselves into the equation when they don't need to be there at all. They represent a very highly educated group of individuals that could likely earn a reasonable living elsewhere. Why do schools need adjuncts anymore than they need administrators?
Because if you cut half the administrators, after a bit of juggling no one would notice.
If you cut half the ad juncts, the school would absolutely be forced to go on a hiring spree for new FTE teaching positions, just to perform its most basic function.
No, I said if there supply of ad juncts halved or external motivators for not using ad juncts were strong enough (e.g., the public stops subsidizing your institution with tax dollars), then universities would hire more FTE positions.
In the status quo if half the ad juncts left the market, the supply wouldn't decrease. Bean counting schools would just lower their edu standards for ad juncts. Not hypothetical -- you can see this effect at schools in small towns.