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The Wealth of Nations Depends on the Health of Families
The Wealth of Nations Depends on the Health of Families
Nov 14, 2024 7:11 PM

Family, church, and school are the three basic people-forming institutions, notes Patrick Fagan, and they produce the best results—including economic and political ones—when they cooperate.

Even if all the market reforms of the Washington think tanks, theWall Street Journal, andForbes Magazinewere enacted, we’d still need to kiss the Great American Economy goodbye. Below the level of economic policy lies a society that is producing fewer people capable of hard work, especially married men with children. As the retreat from marriage continues apace, there are fewer and fewer of these men, resulting in aslowly, permanently decelerating economy.

When men get married, their sense of responsibility and drive to provide gives them the incentive to work much harder. This translates into an average 27-percent increase in their productivity and e. With the retreat from marriage, instead of this “marriage premium,” we get more single men (who work the least), more cohabiting men (who work less than married men), and more divorced men (who fall between the singles and cohabiters).

All this is visible inthe changing work patternsof our country, resulting in real macro-economic consequences. Fifty years ago family life and the economy were quite different.

Read more . . .

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