Thursday, May 03, 2007

Economics: It runs in the family.

In today's world we often hear about "saving the children" or other similar phrases. In past generations there wasn't as much emphasis on protecting the children. Why is it that today's children are seen as valuable and past generations of children weren't seen the same way? Supply and demand! Actually that isn't a joke. In past years families in America were often large in numbers of children. Since the age of the birth control pill children are fewer among families. And what does the law of supply and demand say happens when supply decreases?
Well to people who enjoy the resource of children, (parents) the scarce supply (of children) leads to an increase in value. See economics is all around us!