Comment by theocean154

Arbitrage in labor markets results in a regression to the global mean. Every year that wages do not grow in the US, the buying power of those wages decreases due to inflation (increasing the cost of living). This will result in the standard of livings of the US moving towards that of India. And as a US citizen, I do not want this. If capitalism worked as intended, we'd be a world full of slaves fighting for pennies and shitting in open pits while our masters live like kings.