The people in these countries dont respect programmers, they pay them peanuts. How are they going to innovate?
Maybe it's the US programmers, particularly the ones in Sillicon Valley that are being over - paid? The way I understand it, you can only expect six-figure salaries for working in one of the top companies in SV, and that only if you have graduated from one of the top universities in the area.
Also, there are six-figure salaries in the EU for programmers. You just have to know a bit of COBOL and not be afraid of biig scaary mainframes :0