Photo: AP Images
Financially independent, college-educated individuals are much more likely to marry than those with only high-school diplomas, according to a Pew Study cited by New York magazine’s Molly Langmuir.Langmuir’s latest article, which appears in the current issue of the magazine, captures some playful banter between Nobel prize-winning economist Joseph Stiglitz and his wife Anya Shiffrin, who have a dialogue about why people marry.
The two go back and forth, casually citing studies and fun anecdotes.
But leave it to an economics-minded couple to note that one of the benefits of marriage is related to one of the most fundamental principles of economics. From the article:
J.S.: Another potential factor is Roe v. Wade. There was this study that looked at what fraction of children used to be born within six or seven months of the marriage. It was a significant number! Now that we have abortion, shotgun marriages are much less likely to occur.
A.S.: I’d love to comment on that study, but everything I know about it comes from you. One thing that definitely happens in a marriage, speaking of division of labour, is a division of information. When I was a journalist, I had to pay attention to where the dollar was and what the stock market was doing. Now I can always ask you. And there are a million things you don’t have to pay attention to because you can ask me. All domestic matters, for example.
J.S.: I would say more broadly that it’s everything except economics. Movies, plays, culture …
A.S.: Who’s who, and why do we recognise that person. It really is everything but economics. [Laughs.] It’s dynamic comparative advantage.
It’s worth noting that the word “love” appears once in the article, and it’s in bold in the excerpt above.