Is there any room left at the top?by Alison Wolf / April 24, 2013 / Leave a comment
Published in May 2013 issue of Prospect Magazine
The two-career family © Phil Disley
In the old developed world, where middle incomes are stagnant, today’s race goes to the super-family. It’s a throwback in many ways. It is tight knit, nuclear, husband-wife-and-kids, but with a twist: two successful, two highly educated, two well-paid parents. And it is a key reason why the top section of society is drawing away from the rest.
The 1970s were the start of it. It was when educated women penetrated every part of the professional labour market. They also started to take less and less time out of work when they had children, and began to earn serious money. Across the rich countries of the OECD, the group of leading developed economies, women now hold half of the “Class I” professional and managerial jobs. These are the jobs of the top sixth of society by income: the jobs of the elite.