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by TheAdamAndChe 3366 days ago
Wages are rising for them regionally, but the return on labor is lower than it was before. Previously, a laborer working 9-5 could afford a middle class life with a house, car, and nuclear family. Can a laborer in India or China afford that now? I doubt it.
1 comments

Well no, a laborer in India and China cannot afford that now but more people have come out of poverty in the last 20 years than any 20 year period in history. http://www.economist.com/news/leaders/21578665-nearly-1-bill...
That is great, a true testament to the wealth-creating power of globalization, but it doesn't change the fact that the return on labor is significantly lower than it used to be.