Did I miss something? I think their point was labor supply increased without equivalent labor demand. You are talking about standard of living which of course w

Did I miss something? I think their point was labor supply increased without equivalent labor demand. You are talking about standard of living which of course will increase if more people earn per household. I can see this happening in countries with large population. I observed directly in India where there are double income households working in IT sector and their living standard is way higher in terms of material consumption and on other hand huge army of unemployed IT graduates desperate to find any job.