Economics of Marriage - Pride and Prejudice

Economic lessons from the past

If you would like to study economics of marriage, I would ask you to start with Jane Austen novels. Her greatest works including classics of "Pride and Prejudice", "Sense and sensibility" captures the hardships faced by women caught up in financial struggles. I am not sure, that we can ever get rid of economics out of any marriage. In this part of the world where arranged marriages are common, economics play a huge role. Before even Beauty, and Character is matched, the financial statues are matched. If everything matches, it is a win win scenario for both parties. Yet, some may will compromise some aspects of it provided everything else is in place. (e.g.: a poor girl may have a better chance if she is well educated and a beauty queen, to step up the financial ladder of marriage, to a higher suiter. However, it is not the case if she is less, attractive)

Pride and Prejudice

Beauty vs Dowry, which lasts longer?

Do, not get me wrong, I am neither for nor against of these financial traditions of marriage. I'm just thinking about it as an outside observer, trying to make sense of it. As an example, imagine what would happen a young couple fell in love each other, and later they learn, one is significantly poor than the other, it can create problems even after years of their marriage. As one might feel they have been betrayed, or cheated. The beauty wouldn't last as long as someone's well managed wealth under current governing of capitalism. Hence, when the relative significant advantage of beauty and love disappear with time wealth itself can bring out problems.

Does this mean, that we should always match our financial goals with our partners, before we commit ourselves to a marriage? That seems to be not always a good choice. Yes, if we consider individuals as selfish human beings, who want to thrive, with all the available resources, a financially balanced marriage can just bring that ease of mind. Yet, if we do this for a long time, wealthy will remarry wealthy. And it seems to be an unhealthy scenario, as wealth will accumulate in families over generations, and so there will be limited number of people available for anyone from each financial class. If you know some preliminary biology this would also mean, that remarrying with close individuals can bring bad mutations, even rare diseases which is not at all good for the offspring.

Another problem with wealthy marrying wealthy is that, in time, the population of poor will grow larger, and one day, they will just overpower the ruling party by just numbers.

These are just hypothetical scenarios. Just approximations to the reality. As you can see there are multiple compounding factors to marriage, that it never follow certain rules. But for someone who is younger, and awaiting marriage, I think it is a good mental exercise. Think about it.

Marriage and wealth

What society wants and what individual wants from economics of a marriage?

What society wants is wealthy to marry poor. So, the wealth is redistributed and more equal chances are created. What individual wants is to grow themselves. In order to do that they must not redistribute their wealth by marrying poor. How about love? All those loves stories where the rich marrying poor, just fascinating examples for the former, hence well accepted by the society as "Classics". I am yet to see a novel written in about what normally would happen, in a class clash. Those novels are non-existent for a reason. There is no story, as that is what would happen normally. So, Mr. Darcy might never marry Elizebeth Bennet if she has ever been a poor lady working in his kitchen outside of a novel.