Saturday, July 21, 2012

MORE IS NOT BETTER


Families today are making more money than families did thirty or forty years ago for two basic reasons. First, families have more people working, especially women. Second, working people are working more hours, especially women.
These two factors don’t necessarily make for better-off families. Yes, families today have higher incomes, but they earn those higher incomes by working more. All the while, in per-hour terms, they’re actually making less.