Friedman's "World is Flat" outsourcing book 230

I'll bet good money he didn't mention David Ricardo's(*) follow on paper about his "Iron Law of Wages" theory.

from...

"Ricardo, however, had a second theory, which he called the "iron law of wages." You do not hear much about the iron law, in part because you wouldn't want to hear about it, and also because experience has seemed to prove it untrue. But times are changing.

The iron law of wages is also simple and logical. It says that wages will tend to stabilize at or about subsistence level. That seemed inevitable to Ricardo, since while workers are necessary, and so have to be kept alive, they have no hope of any better treatment since they are infinitely available, replaceable, and generally interchangeable.

Ricardo's wage theory has seemed untrue. The supply of competent workers in a given place is not unlimited; neither workers nor industry are perfectly mobile, and labor demonstrated in the 19th and 20th centuries that it could mobilize and defend itself. The iron law of wages would seem to function only if the supply of labor is infinite and totally mobile.

Unfortunately that day, for practical purposes, has now arrived, thanks to globalization. "

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(*) Famed 19th century economist who penned "The Law of Comparative Advantage" paper.

PS.. It you believe in globalism. Then you're a advocate for worldwide enslavement of mankind. As the barriers are removed. Wages will drop to represent the new equilibrium (With nearly all human labor being devalued to pennies per hour). Unfortunately the new equilibrium will not be able to support a modern society. Hence the humanity will crash into a new dark age. Exactly what path we take to the new dark age is the unknown.... World War, disease, famine, revolution, take you're pick.