Quote (MildSambal @ Jan 11 2023 02:18am)
If people are working less and the value of their labor has gone up as you claim… then why is it that today families need both parents to work to make ends meet while in the past it was much more common that a single income earner was more than enough to live comfortably? Again I’m talking about the majority of families, yes there are some families where one parent makes income in the top 5% and thats enough… but the reality is most families need both parents working good paying jobs to have the basics (mediocre house, mediocre car, two kids, one economy vacation a year, college fund, etc)
In the early USSR, the Soviets generated astronomical growth within what was a very inefficient system, not because communism was any good, it stunk, but because they forcibly moved the population from low productivity farming to high productivity industry, and they didn't care if one or ten million people died.
We did something similar, albeit in a much more efficient system, by moving women out of low productivity housework and into the general workforce. That generated a lot of easy growth, and women are certainly making a lot more than they did, but as a necessary consequence we almost doubled the labor supply, and that's going to put some pressure on wages. So where you might have thought you and your wife were doubling your household income, you'll earn somewhat less than you think.
The value of labor has gone up because education has increased, and a more educated workforce is a more valuable one. But that's only one small part. A large portion of that "productivity" is the result of technology, not the value of labor, and McDonald's isn't going to pay you more just because you can make 3x the burgers in half the time if the reason you can do that is because of technology they bought and corporate practices they developed. If you bought a lawn mowing tractor, would you pay me more per hour to mow your lawn because of my enhanced productivity? Perhaps a small premium if the tractor requires expertise to use, but otherwise you'll call me a bum and pay me what you did before.