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Re:South Korea: The only middle power of its kind by nostromo on Tuesday August 03, 2021 @01:57PM (#28052103)
Their point is that is becoming less and less true and will likely be false soon. Most labor simply isn't worth as much as it used to be. This is evident in stagnant wages and the view of large families not as assets but as liabilities.

You can try to spur local demand by expanding your population (via birth or immigration) but what we really care about is GDP per capita. Most very populous countries are not wealthy.

Re:South Korea: The only middle power of its kind by wizzwizz4 on Tuesday August 03, 2021 @02:01PM (#28052146)
> Most labor simply isn't worth as much as it used to be. This is evident in stagnant wages

You're assuming an efficient market, which we've long known is a flawed assumption.

Re:South Korea: The only middle power of its kind by jeffreyrogers on Tuesday August 03, 2021 @02:12PM (#28052255)
Where is that assumption? I'm not seeing it in the claim.
Re:South Korea: The only middle power of its kind by delecti on Tuesday August 03, 2021 @02:44PM (#28052643)
Taking stagnant wages to imply that the labor is worth less is taking for granted that reduced prices means reduced value. It's probably more accurate (though still oversimplifying) to view it as a cartel suppressing wages.