The system we have (in north america) benefits a handful of individuals at the expense of MOST people. That's not a good system.
Also, speaking as a Canadian, we've got plenty of "brain drain" here, and it's not because we've got socialist labour laws - because for the most part we don't.
The US system can be summarised as "Fuck you, I got mine".
That said if we are honest we have to discover the positives of an individualist system vs a more collective system.
One of which is that exceptional people do on average do better than they would in a more collective system.
It's whether those people doing better is sufficient to offset all the people doing worse that is the debate and I think on balance no, it's not.
That said I'm also not one of those exceptional people either (not many of us here actually are) so that will colour my view, I'm a decent to good developer who writes stuff that works, provides value and gets paid so to me strong worker protections whether enforced by government or union make sense otherwise the power is all on the other side of the table.
Talents leaving the country is an actual problem (for Germany, not the software engineers), no wonder there’s a term for the shortage: The famous Fachkräftemangel.