I've travelled the world for years and I say this authoratatively, because I live and work with people that would do this kind of work for $.50 an hour.
If they work 12 hours a day, which they are doing now in similarly skilled jobs - such as a tailor or small shop-owner - they would make 6 dollars a day. That's almost $2500 a year. A lot of these people are forced to settle for 2-3 bucks a day.
America, you are going to get a lot poorer, because all things in nature find balance. In economics, as in life, the principle that all things come into balance remains ever true.