What if the biggest negative of being a full-time parent - in the way it was common for housewives in Western society in the golden era of the middle class - was not really the extra time on their hands leading to boredom and anxiety ... which was 'solved' - or substantially 'solved' - by both parents working ... was social isolation from lack of connection - including, or even mainly, with their life partner - which was then solved by parents working less rather than more? But how would that family afford the American/Australia/etc - the Western - dream of home ownership, cars and financial security? (No doubt the question many immediately asked.) Well leaving aside - for a moment - the reality that that dream has been lost for very many in Western society anyhow ... what if Nixon's attempt to institute a universal basic income in the US succeeded ... see https://lnkd.in/gtFbjMz8 and like most good ideas, it was broadly adopted throughout the West? From my experience of almost 2 decades of being a stay at home dad, I know that it's not just - or even mainly - the not being intellectually stimulated that leads to anxiety ... because, let's face it, there are plenty of accessible forms of intellectually stimulating material available at our fingertips these days ... and opportunities to share our own analysis and views and talk/debate (as I have consistently done, most recently at MacroEdgo.com). It is the lack of social contact that is most challenging to deal with and that includes with your family and life partner. I have much more energy and feel much more content when my family are nearby to me. Now I know plenty of working parents will say that they can feel like they spend too much time with family during a vacation - I've certainly heard that said - and each time I do I find it incredibly sad because ... it indicates that they have become conditioned to spending so little time together that they do not feel comfortable in each other's company for more extended periods. This is where I think the pandemic and periods of isolation in family groups were an important opportunity for Reset amongst families, and I think it is a shame so much focus was placed on working parents - especially mothers - struggling to help children with home learning ... Afterall, we are talking about largely professional adult parents who could easily carry out that task of assisting children in their learning... but for the requirements, and often over-reach, of their employers. If we can leave aside our complex emotions over this I think there is much we can all learn from each other ... and the benefits to society - for each of us - would be very significant.
The costs and benefits of being a working parent from an economist! Childcare is getting some attention again as the Government is pledging a 10% wage increase from Dec 2024 and another 5% from Dec 2025 if providers agree to cap fee increases. This was already part of the discussion in the Budget and in the Fair Work Commission decide in June so isn't a huge surprise. It lines up with the wage increases given to aged care and healthcare workers and will help to support the much needed flow of workers into the childcare industry. On my calculations it will add 0.2ppt to wages growth over 2024-25 and just 0.1ppt to 2025-26 - not much at all in the big scheme of things. Follow the AMP economics team on instagram or TikTok for other relatable and interesting content about economics, markets, investing and life! https://lnkd.in/dxH9adz9 https://lnkd.in/dqY8BT6V
Brett Edgerton
2mo
I was stimulated to write this post while watching "Cinema Verite" - the story of the first reality TV documentary "An American Family" - but, of course, these views are defused throughout my writing especially on The Great Reset ...
Stay-at-Home Dad at MacroEdgo
2moDiana Mousina do you have anything you wish to add? Or Bob Sutton ? I would love a good conversation to emerge over this ... by some 'serious' people - I well understand that in this modern world a home parent, lacking reputation in socioeconomics/business, can be easily (and conveniently) brushed off as not 'serious' ... Link what I am saying with an understanding of 'BS jobs' - that very many get very little if any intellectual stimulation in their paid jobs - and what I have described as 'just in case' tasks in jobs which likely take up very significant gobs of paid employment work hours for no net positive productive outcome, and one can easily understand that hours worked could be significantly reduced for many ... I saw promotion of a think tank on here listing future jobs for 2050 - all listed 40-50 hrs/wk - why is the 40 hr work week sacrosanct, untouchable now already for almost 100 years? Why is WFH under attack from employers when it works for employees and employers (just as productive and significant savings potential)? Above all else, remember I am a stay at home Dad - I'm not talking about Women only ... I am talking about all Parents working less ... Actually, I am talking about Everyone working less ...