Inequality Redux
Increasing inequality is better explained by differences in family structure than by differences in income. This is from Jason DeParle at the NYT economics blog.
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I’m not sure this is taught in home ec or personal finance classes in high school. But, high school and college-age kids should be taught that the easiest way to avoid poverty is to get an education, job experience and married before bearing children. Two-income households will always out-earn single-income households; and those household with a skilled members are better off than those without skills — especially if they have children.
Good post.
Excellent graphic. Two-income households will hopefully continue to be the model for the future.
Watch out, Devon, if you encourage the youth to get married, you might incur the wrath of progressives.
One income households with 4 kids seemed to work pretty well 50 years ago.
Now, 2 income housholds with 2 kids seems to work about the same.
That’s progress?
If that’s progress, it has gone on too long.
Don Levit
These statistics have come of age as a result of the emergence of the single parent household.
I agree that marriage is good for society, but does that graph take divorce into account?
If not then there is a case to say that these differences are explained by couples splitting up as a result of low incomes.
Amen, David.