theprof00 on 06 July 2017
I can simplify my wall into a brief couple of sentences.
It isn't wages that effects a country's value, it's costs. Ie, the MORE you can charge someone for a product, the more valuable that person is. It sounds heartless and it is, but economically speaking, our own global economic health is tied to the amount we are able to pay.
It is better off for the country that we pay 10x what another country might pay for the same goods.
Ie; China isn't overtaking us because it has lower wages. It's overtaking us because our companies are selling us out.
