Am not saying everything is fine with taiwanese economy, but i do not buy this socialist logic. Is asia, is taiwan, people expect to get products, service cheap. Is cultural, parents already forcing em to study long from early age. They raising em up with low hourly productivity state of mind. In taiwan working hard = working long, over hours. Is not really about hourly output.
Yea i agree, a lot of people are under paid, but this is how is here. Do not forget there is enourmous pressure from china. Low skilled labours can be replaced with chinese any time basically.
An another side, you have world competitive companies like tsmc, with significant growth over years. Their chairman, Morris Chang saying cost of engineers are not a problem, but more talent of em. Saying people getting degree without much passion for subject. But yea, this guy is more american, than taiwanese.
Read an article they looking for like 2k new tehnicians. Going around universities, looking for engineers. Never heard of any company in europe ever looking for so much high paid people at once. Friend told me her starting yearly income from TSMC was over 1mio twd, straight out of university.