You might look into the insane stuff that has happened to housing. That is possibly a better explanation for why it now takes two incomes to try to keep a roof over our heads.
I hear repeatedly that "real wages have been constant since 1970". What started happening around then? Labor follows the same supply demand curves as any other commodity.
"Labor follows the same supply demand curves as any other commodity."
Yes, it does. The demand dropped.
What you hear about real wages is in reference to the US and other parts of the global north. Those manufacturing jobs moved to the global south and now there is less demand for them here.
Yes. I'd add collapse of labor unions, but that's rather a consequence. The perception of women taking jobs from men also follows from loss of male-dominated manufacturing jobs. Women did that work during WWII, but they were enticed back home afterward.
More income is chasing the scarce resource that is housing. Thus prices increase (supply/demand curve).
It is the same with the cost of education increasing horrifically due to the open firehose of student loans making price no-longer-an-object-of-consideration.
In the 1950s, new homes were around 1200 sq. ft. and housed an average of about 3.5 people. These days, new homes are around 2500 sq. ft. and house around 2.5 people. They also have more amenities, such as appliances. Meanwhile, homelessness is on the rise and the availability of affordable housing has been shrinking for decades.
Wages may play a role, but "housing inflation" in terms of houses getting bigger and more luxurious and thus forcing costs up absolutely is a huge problem in this country. Plus, we razed something like 80% of SROs in the 60s and 70s.
There is a huge and growing shortage of actually affordable housing in this country. This has been true for decades. It is one of the reasons I am not crazy about the idea of basic income. If we don't do something about this trend, it won't matter if you cut a check to all the poor people. Many of them will still be either homeless or crowded together horribly in situations they find objectionable.
We basically assume these days that single people in their twenties with entry level jobs should get into housing really designed for a family and share it with roommates. This is basically a post 1980 expectation. Historically, people rented a room in the form of an SRO or a room at a boarding house when they were just starting out. Now, we view those as something provided for chronic losers who can't find another way off the street rather than just cheap housing for single people who don't need much space.
Doubling the work force should not lead to halving wages. It should lead to doubling productivity, or halving the time spent working. The problem is that the extra gains from increased productivity aren't going to the workers, but to the bosses.
Until about the 70s or 80s, salaries of CEOs and workers grew at a similar pace. After that, the salaries of workers stagnated, while that of CEOs rose dramatically. Looks like that's where the profit of the increased labor force went.
