The Not Yet Richer, Still Struggling for Economic Equality, Sex
By Bryce Covert, Next New Deal Editor
The wave of optimism about women’s economic fortunes has crested yet again with the release of Liza Mundy’s latest book, The Richer Sex. Her thesis is that given certain trends, any day now women will outearn men, become the majority of breadwinners and therefore upend social and cultural norms relating to marriage, sex and families. (Upfront caveat: I have only read, and will only be discussing, the part of the book that sets up the trend, and not the parts that examine what the social fallout will look like. I’ll address those in a follow up.) The exact timing of what she calls The Big Flip, where women overtake men, is unclear, but she feels we are just about there, if not already experiencing it.
This is the heart of her thesis: “Almost 40 percent of U.S. working wives now outearn their husbands, a percentage that has risen steeply in this country and many others.” She adds that “[w]ives are breadwinners or co-earners in about two-thirds of American marriages” and that “[a]lmost 7 percent of wives—nearly 4 million women, up from 1.7 percent in 1967—[are] sole breadwinners.” These are impressive statistics to be sure, but as some have pointed out, the math doesn’t add up to a claim that women are already the richer sex. After all, to flip her numbers around, 60 percent of men are still outearning their wives, a third of married women are still contributing less to their families than their husbands and 93 percent of wives are not sole breadwinners. But Mundy predicts that the time when the balance will tilt toward women is “just around the corner.” “We are entering an era where women, not men, will become the top earners in households,” she says. “We are entering the era in which roles will flip.”