India And Silicon Valley: Now The R&D Flows Both Ways
August 31, 2023
May 12, 2016
March 3, 2015
If supply and demand both become global then it follows that wage rates would will also become global. If wages are forced lower in a high cost nation then it would follow that the prices for goods and services would also reduce. In the end a global price would occur.
Yeah, I think you’re right. IT has become a global industry with people all around the world with skills. Companies and outsourcers are rapidly lacing all that together. Now the wage-leveling is starting. If wages come down the rest of economic goods and services will be pressured downwards. I think many skilled industries will follow; standards of living between countries will become less disparate. Welcome to the global economy!