No, he's not, and i never said it should be based on "wants." I said (in not so few words) it should be based on cost of living. If you think it currently is, you're either naive, or dumb. Either way, you're not paying attention.
And no, it's not how "the world works." It's how AMERICAN CAPITALISM works, and that's my f**king point. The American capitalistic system is not "the world."