The truth about inequality

[The Rabbi]

What is the appropriate balance? I see so many platitudes without any meat behind it... What is an appropriate amount of inequality?

There is no appropriate amount. It's whatever happens in a free market system.
Quit trying to control outcomes. That's how we got into this mess to begin with.

 

[georgephillip]

Technical progress does not always equate to higher wages for the worker. It has to be something they learn to set them apart from others. What I was referring to was the increase of workers in the workforce. Women became more educated at that time and entered the workforce in greater numbers. The supply of qualified workers went up. That stagnated the wages.

I remember it a little differently.
As I recall more women entered the workforce in the '70s because a single earner was no longer capable of supporting many American families. No doubt the influx of women into the labor market had the effect you describe regardless of motives.

I never mentioned motives.

It's equally true that many women who entered the labor market during and after the 1970s did so because economic stagnation had made it impossible to support their family with one paycheck.

 

[USNavyVet]

I remember it a little differently.
As I recall more women entered the workforce in the '70s because a single earner was no longer capable of supporting many American families. No doubt the influx of women into the labor market had the effect you describe regardless of motives.

I never mentioned motives.

It's equally true that many women who entered the labor market during and after the 1970s did so because economic stagnation had made it impossible to support their family with one paycheck.

So then you agree that the supply went up, lowering demand and stagnating wages.

 

[georgephillip]

I never mentioned motives.

It's equally true that many women who entered the labor market during and after the 1970s did so because economic stagnation had made it impossible to support their family with one paycheck.

So then you agree that the supply went up, lowering demand and stagnating wages.

I'm saying women entered the job market because economic stagnation made it impossible to support their families on a single paycheck.

Correlation or causation?