19. Economic Motivations for Fertility
Global Problems of Population Growth (MCDB 150)
Data shows, consistently, that poor people have more children than rich people; economically speaking, children are an inferior good. Children are production goods because they do work, consumption goods because they are enjoyable, and investment goods because they support parents in old age. Jobs in the modern sector require education and health. To pay for this, parents have to focus their resources on fewer children.
00:00 - Chapter 1. Children as Inferior Goods
09:50 - Chapter 2. The Economics of Childbearing
22:15 - Chapter 3. Children as Consumption Goods
28:43 - Chapter 4. Children as Investment Goods
37:55 - Chapter 5. Education and Maximizing Investment in Children
50:46 - Chapter 6. Investing in Education
57:01 - Chapter 7. The Process of Modernization
01:06:19 - Chapter 8. Opportunity Costs of Childbearing for Modern Mothers
Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses
This course was recorded in Spring 2009.