Sidney Vargo
Blog Post
Economics - B3 - Reuter
28th February 2017
Is Having A Child Actually Worth It?
When a person or persons decide to add to their life by having a child, there is a lot financially that needs to be discussed and thought through before the first steps even begin. And even when people get there and have this figured out, the actual price for just bringing a child into the world is high. The average price for a labor and delivery stay at the hospital is $10,000. For some groups of people, such as those who are unable to naturally conceive, single parents, or LGBT couples, an IVF (a procedure for people to conceive through laboratory fertilization) on average costs $12,000. The price for adoption can be anywhere from $5,000-$40,000. Just obtaining a baby or child is already a very expensive process. Added to that, the cost of raising a child from birth to eighteen years is on average $233,610. That is not including college or entertainment charges. That price is simply the money it costs for basic survival. This really makes people think about the opportunity costs with having and raising a child. Studies have also shown as time goes on, the inflation in cost for raising children will go up as technology further progresses. Because of these facts, a lot of the millennial generation (anyone born from 1979-1999) has proven to less likely to want to become parents due to the high expenses of it all. Many millennials are ranking up lots of debt all on their own due to college debt and student loans. It could be very possible that the number of adults with children will decrease dramatically as the years go by, externally affecting the country's population and economy overall. Many businesses that target to baby and child products could very well highly decrease in profit.
Above is a chart showing the statistics of women having children depending on their education from 1994-2014. You can see from the pink, as time as gone on, fewer women are having children then they did twenty years ago in 1994. Sure, there are still women having children. There will always be people choosing to become parents. However the difference is the change in time is pretty huge, and will most likely continue on it’s path to decreasing over time. This decision will for sure effect microeconomics over time.
Having, raising, and even the simple procedure of obtaining a child--whether through birth or adoption--is highly expensive, and financially makes sense when people decide the cost of the child just isn’t worth it. Even without money being a problem, being a parent is something you don’t take a day off from. It’s time consuming and takes a lot of effort, and there’s truly nothing that can prepare you for such an extreme task. So when you see people like me boldly saying they would prefer not to have children, it’s best to look at the facts before you judge them. Opportunity cost plays a big role here, and to some people like me, that opportunity cost just isn’t worth it.
Your graph argument is flawed. The graph depicts the percentage of women who don't have children, not the percentage of women who have children. This actually means that more women are having children than twenty years ago. I think your whole piece could be arranged better without this, and the argument would have been valid.
ReplyDeleteI think the opportunity cost would be worth having a child. I would think if I didn't have children I'd be pretty lonely when I was older, and would miss out on a lot of joys in life. Also I think a lot of people would regret their decision to not have kids, when it's too late. Regarding the graph you provided, I'm not sure that the decrease is due to people not wanting kids, it's probably due to the fact that birth control is more available than it used to be and people are smarter now about contraception than in the 90's. Since birth control is easily obtainable now, people are able to wait until they are ready to have kids which explains the decrease. I also don't think even if some of the population doesn't want kids, there will still be accidental pregnancies that will occur, which won't decrease the population or affect the economy.
ReplyDeleteExcellent job utilizing Economics vocabulary naturally in your writing, as well as providing example prices of the average cost of having a child, not to mention having several and then having to pay for college (optional) or entertainment (not so optional. try getting out of that one).
ReplyDeleteFor many people the opportunity cost that comes with raising a child does not matter because all they care about is that they get to create a family of their own. Many do not care about the financial part of having a family, because they would rather have a family than have that extra money just sitting around.
ReplyDeleteI could be wrong, but I'd assume the insurance could cover the delivery process, but that's still quite a bit of money. It's surprising that just the delivery procedure would be that much. It's not like a surgery or some other special circumstance, giving birth is a natural process that a lot of women go through. It's weird to me that it requires so much when some people don't even have babies at hospitals in some cases.
ReplyDeleteAs someone who plans on having children in the future, this is definitely something to consider. There are times I look at my older brothers with their children and genuinely wonder how they're doing financially. While I haven't heard anything, there are times were they seem to be thriving and other where they seem to be quite lacking in purchases. You are very correct about opportunity cost on this front. Again, seeing my brother's family go on a vacation together often leads them to work more when they come back (since they seemed to have saved but not quite enough). Seeing the average cost for raising a child was something that really surprised me. However, that number must change as he/she get older and get a job of their own. As someone who has a job, my parents are slowly "waning" me off of their income since I make my own and can purchase my own things now. In conclusion, I'd like to say that all of this information is quite interesting and probably something every woman should see at least once in their life, especially if they're going into a field that they may not make a lot of money in.
ReplyDeleteIt's interesting to see the actual prices for having kids that we thought was a priceless moment and choice. Now that I see the numbers the consumers(parents) have to really be financially stable. I also liked how you added the baby product business would decline as well. If possible it would have been better to add more about what it would to to businesses and show some numbers for that. The article was very interesting to read.
ReplyDeleteI found your blog post and concept very interesting, because I feel that the true cost of a child is often overlooked. You provided plenty of evidence to support your claim; however, it seemed that the second graph might have been misinterpreted a little bit. To me, it seemed to support that there are fewer childless women now than in 1994, so it may have benefited you to find a better visual to support your stance. However, you still offered many interesting points that would make someone think twice before having a child. Nice job!
ReplyDeleteI agree that children are a large expense to enter into the world, and to maintain throughout the eighteen years you raise them. I feel as though many people look at the opportunity costs and their budget before choosing to have or adopt a child. I didn't realize how much kids really costs.
ReplyDeleteWow! I knew having a child was expensive, but I didn't realize that it costs an average of $233,610 to raise a child from birth until adulthood. To add on to that, most parents also try to have the best for their kids whether this is buying them nice things or taking them to cool places. All of this is money on top of that original $233,610 that it takes to keep the child alive. I think it is interesting how the women who make the most money, the ones who have the most education, are also the ones who have the highest percentages of childless women. This means that the people who do not make as much are spending most of what they make on their children because they cost so much. This also makes you wonder if the reason there is so much childhood poverty could be due to the lack of education these women have about the real cost of raising a child.
ReplyDeleteYou make a very interesting point that not a lot of people think of when they choose to have a child. Most understand the financial strains that could potentially occur, but when you look at it all put together, most do not realize how the cost could be over $200,000. With all of the physical needs for children, and when prices are high so businesses can produced a profit, the cost of having a child continues to rise. Looking at the graph you included, it makes me think that overtime more families are starting to realize the financial needs for having a child. As the numbers are starting to decrease, it is more obvious that not only can families not afford it, but maybe they discover other opportunity costs that they possibly desire. However, as I want to have children in the future I hope to overcome any financial strains that could potentially occur with having a child.
ReplyDeleteI would have to disagree with your graph and your statement saying that "the change is pretty huge and will most likely be decreasing over time." Even though people may choose to not have kids others do and that is making our economy increase. Also, this opportunity cost is worth it, even though you might have a strong opinion on not having kids now I am sure that will change when you get older.
ReplyDeleteI disagree with your argument, because I feel like the experiences of having a child and the love you will have with this child outweighs all of the costs. Children will help you see things through a different light, and even though they might leave you feeling broke some of the time, they will always be there for you. Many parents with children both work jobs, which can help with the cost of raising the child. And there are many ways to make the cost of raising a child lower a little. One way could be by getting hand-me-down clothes or find cheaper clothing for your children, because since they grow out of them so fast, what is the point is getting something expensive?
ReplyDeleteI know of some people who say that they don’t want children or can’t have children because the cost it too much, so they would rather get a pet instead. Well, to me, the cost of having a pet is almost as much as a child, sometimes even more! But people don’t just decide to have pets or children strictly based on the costs, but based on the love and experiences that they will share for years to come. Money is replaceable, but love isn’t.
Although you believe the opportunity cost is not worth having a child many people will disagree with that. I have never actually looked at having a child on the money side of it but seeing this won't change my mind or others that having a child much outweighs the cost. Overall it is an interesting viewpoint but money is not a deciding factor for many people.
ReplyDeleteThis seems like a very controversial topic. I disagree with your argument and instead think that having a child even if it is just one is well worth it. Even though it is expensive and depending on the college you go to could have a lot of debt right off the bat, personally I would get bored if I was married and just worked. I do agree with the fact that children are expensive but that is another reason why I would have a job, so that I could provide for that child.
ReplyDeleteI think this is a very realistic topic to talk about. Seeing as most of us are probably planning on having children one day. I think that the cost to give your child even basic needs is ridiculous. Plus all the extra classes people feel they need to take to be good parents, as well as pre school or nannies.
ReplyDeleteThis blog post was very interesting. I didn't realize how much it actually costs to have a child. I knew that it was a good amount of money but not as much as what was mentioned in this piece (around $250,000). However, I feel like money isn't the biggest factor that comes into having a family for people/parents. Many feel like the opportunity cost of having a child outweighs the price it takes to have and raise one.
ReplyDeleteAlthough people in our generation and even people now and in the last couple years have decided to have less kids, only some of it is in part to how much it costs. Even families that have plenty of money to support a kid and have a family may chose not to. This is mostly due to the fact that they just don't have time to have kids. With their job and other activities going on in their life they find that they do not have a lot of spare time to spend on raising children. Also many people decide to have kids simply in order to just have a kid and raise them which many people find rewarding in the end. If someone does not plan on having a kid and ends up having one there are programs that can help with expenses if you are making less than you should be per a year which is deemed by the government.
ReplyDeleteAlthough this is a great topic to discuss about, I disagree with where you stand on this topic, some couples don't care about the money but really want a child in their life. Some can't have children, and they would do anything to have a child in their life.
ReplyDeleteOn a day to day basis, raising a child may not seem that expensive but the money really adds up! Over $200,000 is crazy! While I do think that the cost of raising a child may cause some people to stop having children, I don't think it will make that large of a difference. I believe the main reason why women aren't having as many children is because more of them are working for higher paying jobs and don't have the time to raise a family. I also think that many people want to have the experience of having a family, and therefore won't let money get in the way of that.
ReplyDeleteObviously I was aware that raising a child is costly considering all the doctor visits, trips to the dentist, haircuts, etc. However, I was unaware that it costs an average of $233,610 to raise a child from birth until adulthood. And that's just an average. As strange as it may sound, I think many parents spend more than that on their child, which is absolutely crazy to think about. $200,000 feels almost impossible to achieve at this point in my life, considering the fact that I'm about to begin college and take out loans to help with my debt. Even though I'm not sure how I'll pull it off, I feel that my quality of life wouldn't be the same without a child. I believe it is a major part of life that I would hate to not experience, but that is just my opinion, and I do respect and understand people who think differently. Overall, I think the opportunity cost is worth it because companionship and unconditional love are priceless.
ReplyDeleteThe decision is ultimately up to the people who want children. If they are spending ridiculous amounts of money, that is their choice. If it is not financially right for adults to have children, then once again, they have that choice. However, I do agree that the price for having children is increasingly high. The opportunity cost could be worth it though. Just because kids are costly doesn't mean parents shouldn't be parents because of those costs. Like the comment above, money is not always a deciding factor as the decision is theirs. If costs are such an issue, when tax returns are available, under certain states one can receive a "refund". It may not be the whole cost for the entire year, however it is still a refund. For those who can't have babies, money can buy them happiness and if that's what they want, then the opportunity cost is worth it.
ReplyDeleteMy first semester parenting class focused a lot on the costs to raise a children, and it is very high. And at that, each subsequent child is more money. One thing we did discuss is that the cost goes down for each kid, as they share some goods. For example, it is not necessary to buy a new crib every child, or even all new clothes. Also, toys, books and money spent on gas can all stay for just one child. So, the cost wouldn’t be $233,610 for each child. I understand that the cost wouldn’t go down substantially, but it would a little. Also, I agree that more women are choosing not to have children, or are having children later, but it is important to think about what that would do to our society. Similar to the baby boom era crisis we are facing today, a decrease in population causes a lack of people to provide for the elderly. We better hope some people from our generation continue to have kids for our own sake down the road.
ReplyDeleteI think it's kind of ridiculous that a laboratory fertilization procedure would cost more than $10,000. On top of that, the cost to raise and support a child would also be extremely expensive. Overall, it seems not worth the various payments you would have to make to the hospital and then later throughout the child's life.
ReplyDeleteI was surprised to hear how expensive the cost of having a child is, although it doesn't deter me from having children. I think the joy of having children and experiencing things with kids far outweighs the cost. Insurance will cover many of the costs of having children and as long as well-paying jobs are maintained by each parent, I don't think the cost should be so terrifying as to turn people away from having kids. I don't think money should be more important than the experiences you will have with kids.
ReplyDeleteWhile the cost of a child seems like a lot, it is over the span of multiple years; and it's not like the money needs to be paid upfront. And, while it will be expensive, people that plan for a child and decide they are ready are more prepared to take on the task of starting a family. Money can be saved and they can start looking for cheaper resources within more time. On that note, some resources are reusable, and if a family decides to have more than one kid, they don't have to pay the same $244,000 cost each time. They will spend a little more, but the cost of having one kid verses 4 kids is not that much different.
ReplyDeleteI believe you argue your point well, however, I would have to disagree with your argument. I believe that even though there are many added costs that come with having a child, what you can gain from it is worth much more. When looking at the graph that you provided, I think that there was a bit of a misinterpretation in the results. What I took from the graph was that there was a higher percentage of women in 1994 who hadn't had children in their 40's in comparison to 2014. On average, there seems to be at least a 5% decrease in women who hadn't had children from 1994 to 2014 so I don't think that it shows fewer women are having children than 20 years ago.
ReplyDeleteI think your blog post makes an interesting stance. Not many people boldly say that having kids is not worth the cost. However, if having kids was not worth it to your parents then you would not be here. It is very expensive to have children, my parents remind me of that all the time, but to see the data is overwhelming. $200,000 is a lot of money. Overall I will have to disagree with you and say that I think the money is worth it because although it is expensive the child is priceless and raising a family is a lifestyle that has no price tag.
ReplyDeleteAlthough not having kids is a gaining more notice, your graph states that less people aren't having kids when you argued that more people aren't having kids. Personally, the opportunity cost is worth it to me because I've wanted children all of my life and have always dreamed of starting a family (in like 10 years). Many people don't want children, and that's a very sound option because you then have your money to spend as you please without a majority of going into someone else.
ReplyDeleteIt is true that the cost of having a child is on the rise, but I agree that no matter the financial state of the woman she has the right to decide for herself. There are many pressures now to have the most modern and safest technology for your baby. Whether it's cribs, monitors, formula, even bottles. This all adds up to be very expensive. A woman who couldn't afford all of the latest baby technology can raise a healthy child without any of it. So much of the costs of having a child comes from outside sources and being told they have to have certain things for their children. Is it still expensive to supply diapers, formula, clothing, and toys? Of course, but someone who is capable of ignoring the sellers saying their children aren't going to be safe sleeping in an ordinary crib that doesn't have 24 hour security cameras will save a lot of money.
ReplyDeleteI was surprised that so many women are dropping out on being a parent. Even though it is a lot of money it gives more long term benefits for a person too. Having can also be a bad thing considering that the earth can only successful hold about 9.1 billion people if there are more babies being born or if those adopted children have babies it could lead to a real crisis. So I agree with you that it has a big opportunity cost but it usually have more benefits than non benefits.
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ReplyDeleteI understand where you’re coming from in that having kids is expensive. However, I think there are a lot of other factors that have been left out of this argument that should be considered as well; the most obvious being the joy that comes with having a child. In addition, it’d be nice to see the differences in the number of children rather than simply arguing that we shouldn’t have any. I know the number of children per household is decreasing but the graph you used actually supports the idea that more women are having at least one child, so check on your interpretation of the graph as well.
It is very expensive to have a child, and it is hard to be able to keep up with your debts, and things that life throw at you. I understand where you are coming from, and it is interesting that you had thrown in the idea of adoption, and having an IVF, and even the cost of birth. However, those are only one time or how ever many children you have costs. In the end, it only adds up to be a little over 200,000 or less. In my opinion, it might seem like a lot of money, but for 18 years, that averages out to be $12,978.33 a year. It's not too staggering, but if you have a lower income, then it would be harder. I am on the fence about having kids, but it's not because of the cost. If people want children, then the opportunity costs will be worth having a lifetime of memories.
ReplyDeleteI do agree that the price for bringing a child into the world is very high, however I think most are aware of the expenses when they do so- or at least need to be educated on it. I don't think it comes down to the opportunity cost of having a child based on expenses, because either way I think having a child is a win. A woman needs to acknowledge that responsibility and privilege that coincides with this process. Yes, families need to shed out thousands of dollars for a child, but a child should be worth it. It is important that people are educated regarding the costs so that these prices do not come as a shock to them. Instead of thinking whether a child is worth the expense or not, it is important to think about if a family can handle that expense for the child. There is a lot more to bringing a child into the world than most people are aware of. Children do not cause negative externalities, they should be a joy- not a burden. It is important to think wisely when justifying actions.
ReplyDeleteI agree that the expenses for raising a child have increased, but also the amount of people who are LGBT. Those two factors highly affect how many kids on average women are having. I think the data that was shown was lacking. I would've like to see the averages for ages that are under 40 since most people decide to have a child then. But my goodness, you never realize how expensive kids are until you look at it that way. The bills, and other expenses add up. There is totally a lot of opportunity cost. for how much a child cost, you could get a new house, or start a business. There's so many things that you give up to get a child.
ReplyDeleteWith the wage gap in America widening and jobs being outsourced to foreign countries to help lower costs, it seems middle class Americans are finding it harder and harder to support themselves. With this in mind, it is no wonder that people are going to be having less and less babies. On top of all of that people with good jobs do not want to lose these jobs because they will have to miss work for extended periods of time. I can totally see that a lot of Americans will be turned off from having a baby for until they are a lot older or might not have any at all. However, I feel if one wants to live the most fulfilling and joy filled life you can, everyone needs to experience the thrill of having a child. While taking the easy way out and not having a child may seem like the good thing to do, I feel that people need to have a child to bring happiness in their lives.
ReplyDeleteThe cost of having a child is obviously rising. I believe, and agree that no matter how much money a person has the family can decide what is best for them and that child. There is a pressure to have the best crib, monitor, formula if used and bottles. Which is half the reason why this is all so expensive. If the family cant afford all of the listed materials listed previously a child CAN be raised without it. The reason why raising a child is so expensive is because people are pressured into having THE BEST things needed for their baby. The most important thing to take out of this is to realize that having a child with a normal crib, normal bottles ect is going to be just as safe and loved as another child with a bunch of extra "safety".
ReplyDeleteI agree with you that the cost of having kids is increasing, and I can see how that might impact someone's decision on if they should or should not have children. However, many people would find that opportunity cost worth it, because the opportunity cost of not having a kid is too much. A lot of people see it as a good investment in their happiness, and their future. Additionally, I think your graph was misread, and it actually states that more people are having kids now than did before. Because of the increasing cost you talked about, a different trend that might occur because of that cost is people having kids later in life. People might just wait until their income is higher and stable to have kids, because of the increase in cost of a child. I can understand your argument, however I disagree that cost will impact how many people choose to have children.
ReplyDeleteIt is very expensive to have a child, and it is hard to be able to keep up with your debts, and things that life throw at you. I understand where you are coming from, and it is interesting that you had thrown in the idea of adoption, and having an IVF, and even the cost of birth. However, those are only one time or how ever many children you have costs. In the end, it only adds up to be a little over 200,000 or less. In my opinion, it might seem like a lot of money, but for 18 years, that averages out to be $12,978.33 a year. It's not too staggering, but if you have a lower income, then it would be harder. I am on the fence about having kids, but it's not because of the cost. If people want children, then the opportunity costs will be worth having a lifetime of memories.
ReplyDeleteOne thing to consider, is that not all children cost the same amount of money.The cost would go down for each kid, because they can share some of the same goods. For example, if you already have clothes, toys, cribs, books, beds etc. It's not necessary to buy all new stuff,you can just reuse what was already bought. Also with the overall price, a lot of it can be covered by insurance. In the end, I think the joy and benefit of having a child definitely outweighs the cost.
ReplyDeleteWhile the graph provided in your piece does not support your argument, the overall writing portion is well thought out a brings up an interesting point. Having taken parenting and child development I knew the cost of raising a child was in close proximity of $200,000. Interestingly, majority of the people I have talked to who are not interested in having child simply do not want to because they don't like them or want more time for themselves as adults. I have never heard anyone argue they don't want to pay for a child, however I feel like a person’s attitude towards having children plays into whether they are willing to pay for them or not. If one is truly set on having a child or children they are more than willing to pay no matter the cost, but if one does not want to have children it would sense they wouldn't want to pay the price, as well. Interesting topic overall, just make sure your visual supports your argument.
ReplyDeleteThis is a very important topic that is overlooked by many hoping to become parents. It was especially interesting to see this from multiple angles, such as the type of couple or different generations. It's true that prices have risen quite a bit for both deliveries and adoption, making the younger generations (who are at/almost at the age of having children) more reluctant to take the huge financial leap. While the cost is steep, it is spread out over 18 years, and many of the resources needed can be reused if a couple decides to have more children. It is ultimately their job to decide if they are prepared for the responsibility of raising a child, and if it is worth the cost.
ReplyDeleteYour usage of the graph is flawed in two ways. First, the graph shows the percentage of women not having children, not the percentage women having children. Second, the graph only shows data for women ages 40-44, which leaves out a substantial portion of the population. Aside from this, as technology advances and quality of life continues to improve more people will likely choose to have children, despite fluctuations in the economy.
ReplyDeleteWhile children are expensive, the income is not only coming from one person. Both parents usually pay for the children and others such as grandparents and other family contribute some to the expense of a child. And although the price of a child seems daunting when fist thinking of it, This price is spread out over 18 years on average. And usually the price of a child decreases as they get older because they become more independent and start to make an income of their own with jobs. Most people also that plan for a child and decide they are ready to start a family. Because of this, that family can save money and invest for the child in the future. On the account of your educated women graph, education and jobs are not the only thing that effect if women have children or not. Many women continue to work even after they have had more than one kid. The graph is also based on the percent of women that haven't had children, which has actually decrease since the 90's and therefore doesn't create a powerful argument for this topic.
ReplyDeleteI am glad that this topic was brought up, as this is something that we are usually never told growing up by teachers or parents. This can also be looked at when people consider why some women will get abortions, well because they don’t want to spend most of their money the rest of their lives on kids and going through the expenses. When my sister found out that she and her husband were unable to have kids it devastated her, and like you brought up it costs an extreme amount of money to adopt a child which was money they did not have. They are divorced now but I honestly don’t know if they even could have been able to save enough money to do so, at least not in their best/preferred years of being a parent.
ReplyDeleteFirst off you misinterpreted the graph you used. From reading the graph you can tell more and more people are having babies as time goes on. However you stated that as time goes on less people are having babies. Also I agree with you the the economical costs of having a child are not worth it as an investment, but the fulfillment of joy of a child, I think outweighs the economics.
ReplyDeleteI always knew having a child was expensive, but it is true that people should consider the time commitment. To me, this seems like opportunity cost in its most true form. Don't just consider the cost of the actual baby and their needs, but factor in all the time and sacrifices and the number becomes much larger. Overall it is up to the couple to decide if they are in a good place in their lives both financially, and in every other aspect, to decide if they are ready for a child.
ReplyDeleteThere definitely isn't a doubt that the birth rates have dropped in 2017 from what they were twenty years ago. This could very well be because of the increased prices of goods and services that our economy as experienced these past twenty or so years. Raising children today is a lot more costly than it would've been back then when you look at the price of education. In 1970, the yearly tuition for a four-year college cost (according to the Delta Cost Project) anywhere from $358 to $1,561. In 2016 and 2017 (according to the College Cost Estimator), the tuition and fees alone for public colleges/universities is around $10,660, not including books, supplies, dorms, and other expenses. So not only is the opportunity cost for raising children high, especially when you spend every day taking care of a child, but the actual price of just education alone is very high as well. I don't want to discourage anyone from having children because the opportunity to raise a child may be worth the expenses and opportunity costs to some people. I just think that when parents are deciding to have children, they base their decision on their plans for the future and their emotional connections to their want for a family, and not the economics side of things. If every parent decided whether or not to have kids based on the economics of children, I'm not sure that anyone would have kids just because of how expensive it is. That is why not all decisions should be solely based on economics, but other emotional factors should play a role as well.
ReplyDeleteThis topic is very interesting and complicated too and as per I know, most parents don't really think about the expenses for having a child. It just happens as a part of nature. Well the statistics of women having children have significantly decreased, not only in the US bit all over the world. Even developing countries like India, had drastically changed the process of having kids. This huge change is due to the inflation in prices and progress of technology. Everyone's goal is to maximize their disposable income and catch up with the inflated prices. The idea of having a kid is decreasing as everyone is much concerned about saving their income and spending for personal purposes. In fact, 2015 population statistics of Japan shows that, there is more population of old age group(65-70) than the young age group(20-35). This can lead to a great problem for economic growth, such as GDP can go down, as there will be less people who will be available to spend. So therefore, the concept of having a kid is completely personal. This personal choice may certainly impact the economy in various ways.
ReplyDeleteThis topic was very interesting and the way you addressed it was really cool. It is interesting that fewer women are having babies and I don't doubt that prices are going up, but looking at the graph you added, I was curious wether women were just not having babies because they were more career driven? Sure as they become more educated, the numbers increased for women having children, however once they got to the PhD and MD, the numbers dropped again. Typically these women were having the most babies, so it was interesting to think about. With all of the political protests about women's rights, it is possible, they are just working harder, and focusing on becoming more equal in the workforce with men, instead of just having babies.
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