Family structure in the United States magnifies class-based inequality and undermines the human capital of the next generation. Yet, the ideas that helped secure a Nobel Prize in economics for Chicago economist Gary Becker still provide the starting point for every discussion of the economics of the family, and if followed, would produce an economy that looks like Yemen’s.Becker won the Nobel Prize at least in part because of his identification of marriage with specialization and trade: men “specialize” in the market and women in the home. His critical prediction: with the wholesale movement of women into the labor market, the gains from marriage would decline and family instability would rise. Yet, it is the blue states — and the families who combine dual careers with egalitarian relationships — that show the biggest drop in divorce rates and brightest spots in in a failing economy.
Yeah baby! More from June Carbone
And then there’s Feminomics at New Deal 2.0