Comment Re:Labor is valueless (Score 1) 139
the expected price set by pure price competition will be whatever bare subsistence costs
The expected price will be the Nth highest benefit of any employer of employing such a person, where N is the number of people on earth capable of doing the job. Any lower, and some other employer will benefit from hiring the employee at a higher pay. Globalization increases N, but it also increases the number of companies that can employ you.