The Economics Of MARRIAGE

The economics of marriage is a detailed topic learnt under the labour economics subject. It involves looking at marriage through principles of economics like a market, demand and supply, opportunity cost, utility maximization, economies of scale etc.

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This is not going to sound romantic but marriage, even in recent times, can seem like a business setup. Two people agree to go into a partnership, sign an agreement, get a license from the government, and bring resources together for shared goals. 

Who is available, who marries who, and who is potentially suitable, makes the whole thing look like a market! Calling it a market probably does not sit well with many people, however, it's comparatively normal for the economists like Gary Becker.

Marriage is probably becoming more of an option than a necessity. But people marry because it makes economic sense among the other reasons. The video also discusses 'male marital wage premium' and motherhood penalty. It also highlights many economic advantages of marriage for example tax benefits, economies of scale, saving vs spending, home and car purchase, combining finances after marriage and so on.

“In sickness and in health”, also includes "in poverty and in wealth". So marriage comes with a lot of costs including mortgage, car leasing, health insurance, emergency budget for an unexpected financial crisis, saving funds, retirement plans, bills, and necessities, honeymoon, leisure & holidays, monthly expenses, long-term wishes, unexpected spending, pregnancy, and last but not the least, raising children. All this starts with the wedding ceremony which is a costly affair. Venues, catering, photography, dress, flowers and the ring, and tons of other expenses. Wedding planners and others who facilitate this happiness remain a very lucrative industry. The newer generations are fighting many traditions and advocating to lower the cost for many such spendings as sustainability and modesty are on the rise.

Divorce is also discusses like If the marriage breaks up, who would walk away with what? who owns what? Lawyers taking advantage of divorce settlements as well as high profile marriages.

#dating #tinder #marriage

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[prajwalpoudel]

Explaining marriages from economic point of view is 100% relevant to our society .

Things like True love and love at first site is only for movies.
the real society works like this and is good for both parties involved.

[vishalsinghbaghel]

Marriages run rural economy of India. We spend a decade of savings on marriages.

[ahhu.]

Marriage is a bond, without it, it would be very hard to build a long term commitment, doesn't mean that some can have long successful relationships without it but most would find it easier to break apart with some headwinds.

Now when kids are involved, problems follows.

Marriage is not for a happy ever after dream like movies, it's to sit your as* down and think family before yourself.

[rags]

Epic, Covering almost all the pros and cons in a crisp manner

[carbonurbuddy]

Well marriage is certainly a very big business in india

[RodriRandom]

It‘s clear that marriage can save you lots of money, but since children are often expected in a married couple, I would say that it can easily become an economic loss. Singles without children will most likely have more spendable income than married couples with children. Besides, being single might cost you more taxes, but I would rather pay tons of taxes and be free to decide over my own life, instead of being trapped in a contract that is completely unnecessary to live a happy life with a partner.

[sanketpatel]

It scares and gives a lot of information at the same time.😵

[TRSega]

I'd love to see the economy of divorce 👊

[ahhu.]

Society promotes individualism in every way and wonder why marriage rates are dropping, man we excel at screwing up ourselves.

[theunleashedbeast]

Please make a video on economy of Japan! Specially their dept and how they overcome it and its further consequences.

[dennissaint]

You should do a video on the economy of Portugal.
I want to know, how a western European country is as poor as a ex-communist bloc country.

[ahtheh]

This reminds me of something
Underdeveloped countries have similar situations of developed country in the previous century

Developing countries have similar to a few decades ago

Btw love to see new narrators

[derinden]

" All this starts with the wedding ceremony which is a costly affair " . This is all because women want to feel like a princess.

[tippipy]

Great… After the lockdown I will try finding a partner :D

[haritikanand]

Marriage should be seen as a celebration, something memorable, poignant and even a bit extravagant instead of a mere Paperwork is institution, not the ceremony...

[iVidhan]

Why raven is not flying over THE INDIA

[rahulprasad]

Can you do more economics of tv series?

[fathih]

Make a video on Indian marriages....you'll be surprised

[ratyjoona]

Finland episode supposed to be soon :)

[shaheryarhabib]

you got yourself a subscriber
do a video on south korea