https://www.nspe.org/resources/licensure/what-pe
Although there does appear to be a PE exam for software: http://ncees.org/wp-content/uploads/2015/07/SWE-Apr-2013.pdf
No, we're not "professional engineers," which means we cannot testify in court as an expert in our field, and have limitations for what we can consult on based on the licensing requirements of your state.
However, the title of "engineer" can be conferred upon an individual by an employer, during the term of their employment.
We on the other hand, have to take an "exam" everytime we show up for an in person interview.
I mean, they say so as much:
> "What makes a PE different from an engineer?"
They're talking about a specific type of certification, not what an engineer is or isn't.
Because money is not the only motivator for someone to work. And besides that, from a macro perspective the "free market" is simplistic propaganda. I don't know why people keep bringing it up. Nothing in the real world works that way. Real world is messy, arbitrary, impractical and irrational decisions are made every single day by all human beings. Normal human beings don't sit down and try to "optimize" some cost function in their life/work.