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A comment on South Korea: The only middle power of its kind. Parent comment

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.

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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.
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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.
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