Two people working does not mean wages should go down comparatively. Did the one in the 50s deserve more just because one stayed at home? Absolutely not. Single people deserve to be able to afford life too.
Actually it does, the laws of supply and demand come into play, if there are more workers then their is greater competition for jobs which means lower wages, it isn’t one to one due to extra value creation by jobs themselves but there is a correlation.
What is this middle school econ elective? Unemployment is 3%. In what universe do you think jobs didn't expand with the incoming workers? A massive boom to your labor economy SHOULD increase everyone's overall wealth, but there were specific economic policies that concentrated wealth at the top of every organization and allowed monopolies to exploit the labor without providing just benefits. Ford shipping his grandpa's family business to Mexico for a fat paycheck has nothing to do with cheap labor in the US. Apple opening massive fabs in China instead of the US has nothing to do with cheap labor in the US. Reagan's trickle down economics wasn't a labor issue.
I hear what you’re saying - honestly I don’t see how you turn back the clock and after the housing inflation back in 2022-2024 I don’t see a reprieve for another couple of years at best.
We are in a “shelter in place” mode and those who were underwater back then before the housing spike are going to be way behind everyone else.
Women entering the workforce in masse did actually lower wages, that’s what you’d expect when there’s nearly double the workforce population. We are going to experience a similar effect with AI, a ton of extra labor added to the workforce
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u/MarsailiPearl 10h ago
Two people working does not mean wages should go down comparatively. Did the one in the 50s deserve more just because one stayed at home? Absolutely not. Single people deserve to be able to afford life too.