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Strategies & Market Trends : The New Economy and its Winners
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To: maceng2 who wrote (17966)8/26/2003 1:34:38 PM
From: BGR  Read Replies (1) of 57684
 
Well, my take is that things cost too much in the USA, which is why the salaries have to be inflated as well. There is no reason why the cheapest haircut should take 10 dollars in the USA and 50 cents in India, where the quality is the same (non-existent) and both are low skill jobs. As the jobs move out of the country, the salaries will rise in India and fall in the USA, and with it the cost of goods will rise in India and fall in the USA, and at some point parity will be reached. That's the nature of the free market. That will mean that the average consumption of people in the USA will match the average consumption of people in India for the same skill set, and by extension to the world.
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