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JER
Rob Miller
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Miscellaneous
[reply]   

01/26/04 10:18 AM EST
posted by JER email web

Hobo BullI drove into the city this Saturday at around 11:00 am and saw that Hobo Jack is working weekends now (note: Hobo Jack is the scraggly bearded homeless man who sells papers on the 14th St bridge exit ramp). I guess even hobos need two incomes these days... Interesting side note. I've often wondered how American society came to a point where a family really does need two incomes to get ahead. A new book "The Two-Income Trap: Why Middle-Class Mothers And Fathers Are Going Broke" attempts to answer that question and provides one interesting observation, if I may paraphrase: The Women's lib movement added 20+ million workers to the job market. The combination of this expanded workforce & wage equality efforts drove median incomes down. So while net income for a two-worker family rose slightly, income for a one worker family took a sharp hit. The law of unintended consequences can be nasty sometimes...

 

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