Economics of the Family [2 volumes]

A fascinating look at the role that households—and the dynamics of families, in particular—play in creating economic growth and social stability in modern economies and markets.This timely compilation of essays examines the paradigm of family in the 21st century, delving into cohabitation, marriage, and divorce; the effects of modern family units on work and consumption; and the ramifications of life choices on economic growth and stability. The text ponders highly personal yet societal topics, such as who lives with whom and why; the reasons for low birth rates among highly educated, high-income women; and strategies busy parents use to balance career, parenthood, and personal life.Volume I explores the various profiles of families today, covering multi- or single-generational, single or dual parent, and same- or opposite-sex couples. Volume II considers how time and money are shared among family members and what impact this distribution of resources has on occupations, technology, and markets. The text scrutinizes the factors that drive family formation and dissolution, control population in countries all over the world, and contribute to a family's well-being and fortitude.Features contributions from academics and practitioners in the fieldProvides a balanced treatment of alternative points of view on controversial issuesIncludes various aspects of family economics in the United States, in Western Europe, in high-income countries of the non-Western world, and in developing countriesAnalyzes data and recent quantitative studies on the changing nature of families

Esther Redmount, PhD, is associate professor of economics at Colorado College.