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To: ahhaha who wrote (13771)	8/8/1999 7:08:00 PM
From: E. Davies	Read Replies (1) \| Respond to of 29970

When wage parity is reached there is trouble afoot I claim no macro economic expertise at all, but I wonder if even this premise is true. Does the world really need people in poverty to prosper economically? Would we rather not have people in India or the Phillipines earning wages that allows them to buy products that we produce? If cheap labor disappeared wouldnt we just find a way to automate the production more? Sure it would cost more capital but then we could actually sell the shoes to the people of the Phillipines instead of just having them make them for us. Has this not always been the path of history? Labor gets supplanted by machinery and the standard of living in the world as a whole improves. Is economic prosperity really a zero-sum game where we can prosper only when others suffer? Eric