|
|
|
|
|
by scottlocklin
2707 days ago
|
|
Everyone benefits from a society with high labor costs. Except maybe short term looting interests of top tier capitalists. Even Henry Ford understood this. High labor costs are why people want to live in the US in the first place; it sure ain't the food or the beautiful architecture. |
|
False. China wouldn’t have grown to be such a powerful economy if their labor costs were high. The average Chinese is better off than they were 30 years ago.
As far as why people want to live in America? That one is easy: opportunity. Try to start a business in India. Now, try to start that same business in the US. That diff is why people want to be in America. A narrow example, but very illustrative. France has higher labor costs than the US as a percentage of revenues, but the US consulate in Gaungzhou had lines around the block for immigrant visas while the French consulate does not. Switzerland has higher labor costs than the US, but their consulate in Bogota is practically empty, while the US consulate is swamped. It isn’t the labor costs, it’s the opportunity.