Over the past 20-30 years, what changes have occurred that now make it necessary for many households to have two incomes to stay afloat?

Question

Over the past 20-30 years, what changes have occurred that now make it necessary for many households to have two incomes to stay afloat?

In: Economics

Answer 1

I heard someone once say: “There are so many labor saving devices on the market today that a person has to work their entire life to afford them.”

Essentially, you can use your time, effort, and skill to perform tasks yourself, or specialize in one job so well to earn enough money to buy devices or other people’s time, effort, and skill to do those things for you.