Let's think about everybody working for £4 an hour.
How much work would come this way?
The question is: what kind of work would come this way?
Weaving cheap clothes for Nike.
Producing raw materials.
Apple picking.
Ditch digging.
Not a whole lot more, coz every good engineer, decent engineer, and half-decent engineer would have emigrated.
Doctors, dentists and employers would not enjoy living in cold, dark hovels, so they would run too.
That leaves a population working long, hard hours with poor housing, no healthcare, and no prospects. They would occasionally stare up, and watch the private planes and helicopters bringing in the elite.
Let’s think about Rhodesia 100 years ago; would I like to turn England into something like that?
Where we are all working long and hard to satisfy the elite from abroad, and be really equal to everybody else amongst my peers?
It depends how equal I would be; if I was one of the very equal, I would not mind I guess.