2 ms·
Doubling the labor force suppressed wages at the same time inflation skyrocketed so workers didn't notice (as much). Divorce exacerbated the problem by dividin
by tonymet 3y ago
Doubling the labor force suppressed wages at the same time inflation skyrocketed so workers didn't notice (as much).
Divorce exacerbated the problem by dividing families and requiring double the resources (two homes, cars, insurance plans, etc). Families had to start paying for daycare and housekeeping , both expensive and taxable . But that increased GDP .
A working class single-wage-earner could once support an entire 6-8 person family.
All the wealthiest Zips today e..g Berkeley , Palo Alto were once full of working class families.
Economic statistics are just indicators. It's important to pay attention to the real world.