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Ah, but what if the fact that we are individually poorer mostly derives from supply and demand - in other words, if labor is more abundant, then the price paid
by fallingfrog 10y ago
Ah, but what if the fact that we are individually poorer mostly derives from supply and demand - in other words, if labor is more abundant, then the price paid by an employer for labor goes down? In that case it is plausible that the entry of women into the workplace could be part of what's causing the drop in wages as well. And in that case it's a self reinforcing feedback loop, since if everyone else has two people working then you have to do that too, just to maintain stable wages.