Earlier quoted context omitted.
It often feels like two income households are counter productive. Sure, we make more money, but it feels like 2x the dollars chasing 1.5x the pie out in the world. And then you have to pay for childcare. As for the household work, I was just telling someone today how much I miss being able to work all the time. I love my kids and they come first, but it's a sacrifice to for me not to work 12+ hour days.
As with almost all optimization problems, applying twice the resources (in this case, work hours) won't bring you back twice the (net) bacon, due to diminishing returns. However, I think on net it is still more economically productive, at least in a large portion of cases. It's unlikely that housework and childcare would optimally take up a full 50% of our entire reservoir of workable-hours, especially in the age of…
What I'm saying, and a big component of what I'm thinking about is housing costs, is that we're chasing the same things with more dollars. If household incomes double, expect the price of houses to follow suit. Assuming supply doesn't change, it doesn't help to earn 2x the money when all the bidders in the marketplace also have 2x the money.