9.2.16

MORE NOSTALGIA FOR THE FIFTIES.

Last night, I caught a snippet of a Senator Sanders speech, possibly before this audience, in which he told the youngsters about a vanished time when one middle-class income could support a family.  That does seem to appeal to his voters.

Political economy, however, is about trade-offs.  You can have a family wage.  Or you can have widespread labor force participation by married women (and the tradeoffs that come with.)

But you can't have both.

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