how's that standard of living working out for India and China? I don't see a lot of low intuition westerners waiting to get in.
Can algorithmic trading systems beat human traders? Yes if you play the scalping game as a trader without special commissions and without automation in reference to professional algorithmic systems that enjoy those "special privileges" that the typical trader doesn't have access to.
Only day traders. Longer term traders especially those doing sophisticated options strats will do fine.