--- john hull <[EMAIL PROTECTED]> wrote:
> Why are we better off today?
> (Better products & two wage households would be a
> start, I guess.)

Better products, yes, but not necessarily two-wage households.

If the price of housing goes up substantially, a spouse may be induced to
work for wages, but after paying for the increased cost of real estate,
extra taxes, and child care, the family may not be better off.

When the wife goes to work for money wages, it looks like the GDP has gone
up, but she is substituting commercial child care for her home child care
that does not show up in GDP, so the per-capita increase in GDP is
exagerated.

Fred Foldvary

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