> You give workers more power by making sure there's plenty of competition between employers, and plenty of other outside options for workers.

In theory that should work, but I have heard of U.S. companies that try to use non-compete clauses in employment contracts to prevent workers from being able to exercise their right to work in the same industry for a different company.

> here in Singapore we have no minimum wage

Just looked that up as I am not familiar with Singapore (apart from half a day due to airplane issues) and it appears that there is instead a sector specific Progressive Wage Model (PWM) that is mandatory for some of those sectors (e.g. food, retail, cleaning).

> I don't see what that has to do with binding arbitration over licensing of some computer games?

It's the notion of giving up your right to legal redress if Sony suddenly revokes your license to use what you've already paid for.