I think You’re alluding to supply and demand forces. We can have assets increase in price in other ways besides population growth. We can also have supply constraints for any number of reasons. We can have wage growth as well to push prices up.
Cheap labour is a device to create an increase in profit margin while maintaining product price. But as we are now seeing, cheap labour comes at a societal and real $$ cost. Especially nowadays when there’s substantial social welfare in the system and the economy contracts.
