Marriage An Economic Perspective

Marriage An Economic Perspective

February 15th, 2018
by Elif Ozdemir

Is there a​ correlation between marriage and​ business trade?
When all's been said and​ done after February 14, what is​ most in​ the​ minds of​ people smitten by love is​ "What could be the​ next best thing?" for​ any man, after months and​ months of​ extravagant spending and​ nagging from his significant other, the​ ultimate end of​ dating has to​ be realized, if​ not immediately in​ the​ near future. It's high time to​ talk marriage, since entering a​ relationship is​ like doing business. Every one has to​ make risks. Every one has to​ make an​ investment. it​ should be considered that economists run after investments that are tangible. Economists can never measure emotional investment.

So why do people marry? It's been a​ phenomenon in​ western societies for​ couples to​ live in​ together without the​ benefit of​ saying "I do." What's the​ underlying economic reason behind marriage?

A research by professors from Ohio State University queried some 9,000 people from the​ baby boom generation (those who are fifty years of​ age up) about the​ economic aspects and​ advantages of​ marrying. the​ study found out that marriage gives an​ overall positive effect on an​ individual's social and​ income status compared to​ someone who's living a​ single life. for​ example, a​ married individual experiences an​ increase in​ personal wealth. This data can also be interpreted in​ another way. Why? Because when one marries, one's income and​ property also becomes the​ income and​ property of​ his or​ her partner. That is​ one advantage of​ facing the​ altar. Marriage law binds a​ man and​ woman as​ husband and​ wife like no other. Think. What could be the​ details that Hollywood stars scuttle over during the​ dissolution of​ their marriage?

When they do get hitched, couples have more to​ look forward to​ economically speaking. the​ rate for​ residential property rises every year as​ more and​ more people move from the​ rural areas to​ urban centers. it​ is​ expected that the​ cost for​ basic necessities like food and​ clothing will also increase. and​ when the​ marriage produces an​ offspring or​ more, the​ expenditures will climb threefold. Serious cases of​ dalliances with other people were not included in​ the​ study.

The other thing that the​ research tells is​ that the​ economic benefits of​ marriage are higher for​ a​ person marrying a​ "winner," meaning the​ partner is​ not necessarily rich but very able. That is​ a​ contrast for​ someone who marries someone who didn't finish high school or​ has some form of​ disability.

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