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Politics : The Obama - Clinton Disaster
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To: Wayners who wrote (69684)4/9/2012 9:23:32 PM
From: DuckTapeSunroof  Read Replies (1) of 103300
 
Re: "You are very right on this one but not sure you explained it correctly. It goes back to basic economics. In the beginning when women first started entering the work force, it was a financial bonanaza to the family, but as more and more women entered the workforce, all it did was drive down wages due to the excess supply of readily available labor."

I don't think that it happened in that order.

I think that WAGES STAGNATED and FELL *first* (before women entered the workforce in massive numbers).

TRUE, women have been entering the work place in larger and larger numbers ever since WW II... but I believe it was mostly only when the Baby Boom generation tried to find work and enter the workforce (in massive numbers) that wages began to stall.

This would have been right at the tail end of the 'sixties and the start of the 'seventies and it stands to reason that when something is in 'over supply' (in this case: labor... young folks looking for work) that the over-supply forces market prices of that particular commodity down.

It also didn't help that that was when our country was also diverting massive amounts of national capital into relatively economically unproductive endeavors (the decade-long war in Vietnam comes to mind). That too didn't do much for job production. (Neither did the rising global availability of much cheaper labor... first Japan, then one other Asian country after another....) This impact became even stronger near the end of the 'seventies.

I believe that it was *mainly* in the mid-to-late 'seventies (AFTER the stagnation in wages was well-established) that women entered the work place in the largest numbers.

A way to help their families out when times were hard.
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