Love, Money, and Parenting: How Economics Explains the Way We Raise Our Kids

Love,Money,and Parenting explores how economic forces shape parenting choices, leading to a parenting gap between richer and poorer families and the prospect of diminished social mobility.

Format: Paperback / softback
Length: 384 pages
Publication date: 03 November 2020
Publisher: Princeton University Press

Love, Money, and Parenting: An International and Historical Examination of Parenting Choices in the Face of Economic Inequality

Love, Money, and Parenting delves into the profound ways in which economic forces shape the parenting choices of individuals and families across different cultures and historical contexts. In countries experiencing increasing economic inequality, parents are driven to exert greater efforts to secure their children's future success and well-being. This push manifests in various ways, from intensively pursuing educational opportunities to allocating resources to extracurricular activities and enrichment programs.

In the United States, the impact of growing economic inequality has been particularly evident. The hands-off parenting style prevalent in the 1960s and 1970s has given way to a frenzied and overscheduled approach. Parents are now pressured to enroll their children in a multitude of extracurricular activities, from sports and music lessons to language classes and tutoring. The goal is to provide their children with every advantage possible, in the hopes of boosting their chances of academic and professional success.

However, this pursuit of success has led to a widening parenting gap between richer and poorer families. The resources and opportunities available to affluent families allow them to invest in their children's education and development in ways that are not accessible to families with limited financial means. This gap not only perpetuates economic inequality but also raises concerns about social mobility and the potential for a perpetuation of privilege.

To address these challenges, Matthias Doepke and Fabrizio Zilibotti, in their book, explore how changes to public policy can contribute to the ideal of equal opportunity for all. They argue that policies aimed at reducing income inequality, improving access to education and healthcare, and promoting social mobility can have a positive impact on parenting choices and outcomes. For example, implementing universal preschool programs can level the playing field for children from different backgrounds, providing them with a solid foundation for learning and development.

Furthermore, policies that promote work-life balance and support for families can help alleviate the pressures parents face in their pursuit of success. By providing affordable childcare options, flexible work schedules, and parental leave policies, parents can better balance their work and family responsibilities, reducing stress and improving their overall well-being.

In conclusion, Love, Money, and Parenting provides a valuable insight into the complex relationship between economic inequality, parenting choices, and social mobility. By examining the experiences of countries with high and low economic inequality, the book offers practical solutions for promoting equal opportunity for all children. It underscores the importance of policies that address income inequality, improve access to education and healthcare, and support families in their efforts to provide a nurturing and supportive environment for their children. As we navigate the challenges of a rapidly changing world, it is essential to prioritize policies that promote social mobility and equal opportunity for all children.

Weight: 364g
Dimension: 135 x 203 x 30 (mm)
ISBN-13: 9780691210162