As the pill, education and employment opportunities changed the value of women as wives, the tradeoffs that relate to being married have also changed.
The Cost of Raising Children
Behavioral economists like Gary Becker say that the family is like a factory where land, labor and capital are combined to “produce” goods like children.
The Rotten Kid Theorem and Other Gary Becker Ideas
Gary Becker image courtesy of University of Chicago. All too often, if you say you are looking at the economics of the family, people assume you are talking about money. Nobel Laureate Gary Becker, who died this week (1930-2014), changed…