Doesn't make a difference.
In our society, powerful men maintain mistresses on the side anyway.
Might as well make it legal and raise women to appreciate the benefits of having other women in the household to help with the housework and babysitting.
And at all events, it would be only a minority of men who would be able to afford more than one wife, so not that many women would be taken out of circulation.
Additionally, an increasingly large percentage of American women are not finding anyone to marry anyway.
(And no wonder: Why would men want to marry anyone when milk is free, so to speak)
Legalized polygamy will not help matters. Then there are government sanctioned benefits attending same, which will increase the incidence of same. Follow the money.