We can also do the simulation trivially using empirical data, women on average in the UK have 2 children, and take four years out of work to have them, and when in work, work for 9 years part-time. That creates a theoretical paygap of 20% on a 40 year career across male/female populations
The claim that the economy sustains a free markdown on 50% of the population's labour is mad. What force of nature is keeping a mass of businesses forming just hiring this cheap labour? Why arent there businesses booming hiring, en mass, women?
Either way, aside from that madness. The effect is, to a significant figure, entirely explained by working duration not differential pay.
And I've personally known no mothers who think the population of women is better served by reducing their part-time work, and having them work more.
And people wonder why professional women don't want to have children any more.
The "cost" of two children, with above numbers, for "mean woman" is 20% of pay -- so she earns ~1.1m
Presented on a deathbed: would you have preferred to earn 1.4mil over your working life and have neither of your two children, or 1.1m and have both?
The question would seem an absurdity. Bearing in mind that 300k comes with a lifetime of zoom calls and emails, and not much else.
Now if you want to pay women to have children, that's a proposal I'd be open to -- it would reduce the pay gap by significant tax rises, and so on. Nevertheless, I've not met any mothers who wanted to work more nor would take the trade for 1.4 over 1.1 (this, of course, doesnt control for tax credits or welfare -- which both perform this redistribution anyway).