If a worker in China can do the same work as an American, then what economists call “the law of one price” demands that they earn essentially the same wages, because the market will arbitrage away differences just as it would for other commoditiesChapter 11 Implications of the Bounty and the Spread ↱
Race Against the Machine
How the Digital Revolution is Accelerating Innovation, Driving Productivity, and Irreversibly Transforming Employment and the Economy
Erik Brynjolfsson, Andrew McAfee