Earlier quoted context omitted.
It makes perfect economic sense: it's a simple supply and demand curve. Increasing the number of workers decreases their value. The only confounding factor is whether the increase in workers increases the speed at which the economy grows/ I'd guess it probably does, but not enough to offset the downward pressure on wages.
It is pretty well accepted fact in economics that a growing workforce is a good thing for economic growth. > it's a simple supply and demand curve. Increasing the number of workers decreases their value. You are leaving out a crucial factor - the wages that the 'new' workers earn are going to be spent in the economy, growing the economy as a whole. This is increasing the 'demand' side of that supply and demand curve.…
And, making that worse: Once you have two careers to plan for, it's much harder to move to a smaller cheaper city to escape. Perhaps both of you can find good jobs in the big city, and in 5 smaller places... but not the same 5! So you have to pick the big center.