Income inequality discussed in the previous post has another consequence. Young men and women are realizing that they will not earn anywhere near the amount in real terms as their parents. Real wages have fallen from $15.18/hour for men and $11.12/hour for women in 1973 to $11.75/hour for men and $10.21/hour for women in 2009 dollars.
Our kids wisely understand that they will have nowhere near what is adequate to start or raise a family in today’s society. As the graph
points out there has been a drastic reduction in marriage rates across all education levels since 1960.
Again thanks to public policy that has concentrated wealth into the top 0.1% of the income distribution, that college educated kid just maybe on your couch for a while longer.
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