I Love Economics
What factors do you believe explain why in the 50s there were factory workewrs who could support a wife and kids on a single paycheck when you have to make bank to do that now? As far as I can tell, some of the factors involved:
1)Population growth; since the baby boomers, there are more people, which means more resources are taken up.
2)House bills are more expensive due to multiple tv's, phones, video games, air condition etc that we have.
3)This one I am not too sure of and may be interpreted as sexist, but women in the workforce. More women in the workforce means more more division of labor, which means smaller pay checks.
What about you? What do you think are the factors?
1)Population growth; since the baby boomers, there are more people, which means more resources are taken up.
2)House bills are more expensive due to multiple tv's, phones, video games, air condition etc that we have.
3)This one I am not too sure of and may be interpreted as sexist, but women in the workforce. More women in the workforce means more more division of labor, which means smaller pay checks.
What about you? What do you think are the factors?