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convergence down for women,
not much up for men.
So men are maybe going
from 0 to 0.1.
Women are coming from
like 1 to 1/2.
So what you're seeing is that
men aren't actually working
that much less.
There's a few stay-at-home
dads.
But they're still not
the majority.
Women are working a lot
more, and kids are in
child care a lot more.
So what you're seeing over
time is you're seeing men
being a little more responsive,
but not that much
more responsive.
They're still, basically,
working all the time.
Women are working a lot
more and being more
responsive to wages.
And there's a reduction coming
in both women's leisure and
production of child
care at home.
Now, that raises a very
interesting question of is
this is a good thing?
Now this is a very deep
and hard topic.
In economics, we think if people
do something it's good,
or they wouldn't have done it.
It is true that if you look
at data on self-reported
well-being or happiness data,
married women report a general
decline in happiness, over the
last 40 years, as they've
entered the labor force
more and more.
And the issue is, is this
something which is a good way
for society to spend
its resources, to
have everyone working?
We're consuming more.
Consumption has gone up.
We're consuming more, but
we're getting less
leisure as a family.
Because the men aren't working
that much less.
The women are working
a lot more.
So we're getting less
leisure as a family.
How do we feel about
that outcome.