Description
Book SynopsisThe transformative effect of technological change on households and culture, seen from a macroeconomic perspective through simple economic models.In Evolving Households, Jeremy Greenwood argues that technological progress has had as significant an effect on households as it had on industry. Taking a macroeconomic perspective, Greenwood develops simple economic models to study such phenomena as the rise in married female labor force participation, changes in fertility rates, the decline in marriage, and increased longevity. These trends represent a dramatic transformation in everyday life, and they were made possible by advancements in technology. Greenwood also addresses how technological progress can cause social change.
Greenwood shows, for example, how electricity and labor-saving appliances freed women from full-time household drudgery and enabled them to enter the labor market. He explains that fertility dropped when higher wages increased the opportunity co
