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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[@prajwalpoudel4483]

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.

[@EconomicRaven]

Glad you like it!

[@prajwalpoudel4483]

@@EconomicRaven yes i liked it, because you make one of the best content in KZbin.

[@haritikanand8502]

@@prajwalpoudel4483 well, love obviously does exist.. Why would people even come together if it wasnt for love?

[@prajwalpoudel4483]

@@haritikanand8502 love does exist but with some condition to it - it's just my opinion

[@haritikanand8502]

@@prajwalpoudel4483 yup,that's right

[@vishalsinghbaghel]

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

[@praveen.v.sveeresh2205]

Damn true, its like only ambition in life to do a grand marriage even though they fall in debt for their whole life, In certain cases.

[@shishyathwa]

Sri Lankans too

[@indiancowpissdrinker7151]

China’s gdp is 8 times bigger than u scammers,it’s over raj

[@ahmedsalahalhag7531]

SAME AS IN THE MIDDLE EAST

[@KM-rk3ok]

That would be a wedding, not a marriage

[@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.

[@rags9052]

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

[@EconomicRaven]

Thank you 🙏

[@carbonurbuddy3456]

Well marriage is certainly a very big business in india

[@georgedc6714]

Haha the thumbnail! Epic

[@EconomicRaven]

My Precious!!!

[@ginglee4199]

Hahaha funnay

[@Sarah.M98]

LMAO! I came here for the thumbnail 🤣🤣🤣

[@sanketpatel9030]

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

[@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.

[@TheHannala2]

The interesting thing is that marriage was never about happiness, it was an economic function of society. Economics doesn't measure intangible benefits like happiness. I think people with your stance also need to heavily consider the future implications of not producing children. Statistically, fertility has declined in every country in the world. In 2018, the US fertility rate was the lowest it's ever been in history. Good thing? This puts financial pressure on the government system. More people are retiring, and fewer people are paying into social security. More retirees = more jobs to fill and no one to fill them. We NEED the population to be sustained in order for the economy to be sustained. So opting out of children may be considered an individual choice, but if everyone is making that choice, it can have serious repercussions, which will not be seen for a long time but will occur nonetheless.

[@TRSega]

I'd love to see the economy of divorce 👊

[@fatimamajed3533]

Wonderful video 👍

[@shishyathwa]

Thank you Learned a lot

[@EconomicRaven]

Thank you for watching 🙏

[@englishlearning4006]

Great video thanks.

[@EconomicRaven]

Thank you 🙏

[@theunleashedbeast6433]

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

[@EconomicRaven]

We have already made a video on the economy of Japan. Please find it on our channel

[@ahhu.]

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

[@rahulprasad2318]

Can you do more economics of tv series?

[@dennissaint4974]

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.

[@EconomicRaven]

the Raven will fly over Portugal soon!

[@kenhart8771]

Basically be course of work ethics which in past was especially promoted in the Protestantism and thereby access to money and wealth building. North and South America is a perfect example. If it was the Puritans settling in Northern United State of America you would have different country.

[@dan-us6nk]

Please, make an Estonia video!!

[@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

[@mikhael.j7]

Not really.. marriage is still a business in foreign countries. It's a boiling pot for profitable businesses

[@pushkarnayak7163]

make a video on Indian economy

[@derinden15]

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

[@gordongekko3174]

love is not blind, lovers are

[@AunknownMan]

Can you do Israel next?

[@indiancowpissdrinker7151]

Can u do a video to explain why China population 1.4 billion and poopia population 1.3 billion but China’s gdp is 8 times larger than poopia?is there any hope left for poopia?

[@tippipy]

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

[@Arthur-yl7pb]

👌🏽

[@shaheryarhabib5865]

you got yourself a subscriber do a video on south korea

[@EconomicRaven]

the Raven will fly over South Korea soon!

[@shaheryarhabib5865]

@@EconomicRaven have a nice ✈️

[@ratyjoona]

Finland episode supposed to be soon :)

[@EconomicRaven]

the Raven will fly over Finland soon!

[@ratyjoona]

@@EconomicRaven When, tho? 😅

[@mrmachiavelli8380]

Mr/Miss raven please make a video on Pakistan.

[@EconomicRaven]

the Raven will fly over Pakistan soon!

[@iVidhan]

Why raven is not flying over THE INDIA

[@fathih1803]

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

[@tshoeul2087]

Narrator from South Africa ?

[@ntombi105]

Thinking the same thing, hey. Accent is too South African

[@stefanlaing741]

The narrator sounds like she's from South Africa?

[@haritikanand8502]

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

[@martinplay2848]

i would like czech economic next time

[@EconomicRaven]

the Raven will fly over Czech Republic soon!

[@martinplay2848]

@@EconomicRaven thanks

[@userxxx-sl7mr]

Leading cause of divorce is marriage wow tell me something we dont know

[@quinntinmann]

To sum it up don’t get married

[@kenhart8771]

Marriage also makes men into ploy horses

[@Think_Inc]

What is up with all the Indians commenting that marriage is a big business there?

[@Sanjeevi7]

A bride here would cost from 10 lakhs to 2 crores.

[@blackjew6827]

Marriages is a losing game for men.

[@ayoubawadi2950]

This is pure Propaganda 😠

[@airbnbvirtualtour]

Don't make this kind of videos

[@camilleclaudel7488]

You forgot to tell : Break up ruins men, parent who stay home is an advantage and not a inconvenient, women decides more than men of all expenses even if it's not their own money.

[@archanagoyal4083]

What a horrific idea of marriage have you given!! 🚫 Marriage a market! That must be the case in your country and the culturally homogenized western nations, but in our country, marriage still remains a significant component of our vast culture. We regard it as a sacred relationship between a man and a woman. Really bad thought and video!👎👎 Economics and everything else has a limit and you must know where to stop thinking in a certain sense.