Part of the story is that doubling the size of the workforce does depress wages; and it does cause inflation on assets that do not see an increase in production

Part of the story is that doubling the size of the workforce does depress wages; and it does cause inflation on assets that do not see an increase in production with an increase in workforce size (such as land). The other issue is that "women entering the workforce" is not really an accurate description of what is going on. Women have been entering the formal workforce. This means that family now need to pay for what was once done for free by the wife. The most significant expense here is childcare (the cost of which is often cited as a major barrier to women "entering" the workforce); however there are all sorts of little expenses that could be avoid at the cost of additional time, so not heaving an unpaid homemaker increases your living costs in a bunch of little ways.