[Axenolith]

What law of economics is that?! Is that law only in operation on the North American continent? You're talking zero sum here, if the Americans were paid this hypothetical equilibrium wage you'd have to put a 50+% tariff on things like Korean cars and they'd be back to square one forking out $25,000 for a cracker box car (among other things) on their $60,000 "equilibrium wage".

Of course, prices on goods would rise commensurately here, but we could fix that with "wage and price controls" right?

[N3WBI3]

The funny thing is that cars are no less expensive now than when they were made in this country (BTW S. Korea pays a decent wage).