It's a valid point, but I have at least three objections:
1) Everybody starts out as single, so young men start out with a sharply reduced salary due to higher supply, which makes it harder for them to become financially secure and find a partner (which would then decrease their costs).
2) There are many extra costs associated with a two-income household, and many more negative effects from a two-income-as-the-default economy. Elizabeth Warren write The Two-Income Trap on this very subject.
3) It's quite possible that it did halve prices, or came surprisingly close! Have you seen those productivity vs wages graphs? Productivity increased by about 245%, wages increased by 110% (since 1950). That means wages are now at 60% of what they were, relative to productivity. That's not quite half, and the switch to a two-income expectation can't be the only factor, but it's close. Then again, there is still a significant workforce participation gap between men and women, even in the USA (69% vs. 57%), so even in ideal circumstances I wouldn't expect a perfect halving.
1) I don't quite understand, what does being single have to do with anything and why do men start out with a sharply reduced salary? Or do you mean relative to the men only workforce?
2) I'll check it out.
3) 1890 to 1950 has also seen big productivity growth and I doubt the wages kept pace.
1) Everybody starts out as single, so young men start out with a sharply reduced salary due to higher supply, which makes it harder for them to become financially secure and find a partner (which would then decrease their costs).
2) There are many extra costs associated with a two-income household, and many more negative effects from a two-income-as-the-default economy. Elizabeth Warren write The Two-Income Trap on this very subject.
3) It's quite possible that it did halve prices, or came surprisingly close! Have you seen those productivity vs wages graphs? Productivity increased by about 245%, wages increased by 110% (since 1950). That means wages are now at 60% of what they were, relative to productivity. That's not quite half, and the switch to a two-income expectation can't be the only factor, but it's close. Then again, there is still a significant workforce participation gap between men and women, even in the USA (69% vs. 57%), so even in ideal circumstances I wouldn't expect a perfect halving.