Monday, November 29, 2010
A new theory is being set forth by some of those researching the economics of the family. From The New York Times:
In light of these changes, we suggest that economists need to develop a new — dare we say post-Beckerian? — model of the family:
So what drives modern marriage? We believe that the answer lies in a shift from the family as a forum for shared production to shared consumption. In case the language of economic lacks romance, let’s be clearer: modern marriage is about love and companionship. Most things in life are simply better shared with another. … The key today is consumption complementarities — activities that are not only enjoyable, but are more enjoyable when shared with a spouse. We call this new model of sharing our lives “hedonic marriage.”
Read more here.
Hat Tip: SH