Re: Singapore fared somewhat better?
Term used in economics, also "human capital". Industrialisation is generally considerd to favour "capital" (money) over "labour" (people actually doing stuff. This has been the case in the West since the 1980s which has led to a greater concentration of wealth as low skilled workers have seen their incomes stagnate or disappear. There are occasional reversals (post-WII to the first oil crisis).
Biting the hand that feeds IT
