Here's why:
* Calcium hydroxide is already in its most stable oxidized state: Calcium in Ca(OH)₂ is already in its +2 oxidation state. Oxygen cannot further oxidize it.
* Oxygen is a strong oxidizing agent: It typically wants to gain electrons and oxidize other substances. However, calcium hydroxide is already fully oxidized.
Therefore, no reaction occurs between oxygen and calcium hydroxide under normal conditions.