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Economy influenced by family structure
Trends in marriage and family structure pose long-term risks to the financial and fiscal health of the world's wealthiest nations and are implicated in the recent global economic slowdown, according to a new report from America.
The study, released by the Social Trends Institute, contends that the long-term fortunes of the modern economy rise and fall with the family. For example, the report finds that men who get married and stay married work harder and earn more money than their unmarried peers.
The report tracks global trends in fertility, marriage, divorce, cohabitation, single parenthood and child malnutrition. The report found that the percentage of children born and raised in intact, married families, where they are more likely to acquire the human and social capital they need to become gainfully employed as adults, has sharply decreased.
More than 40% of children are born outside of marriage in much of the Americas and Europe - from Canada to Chile, and from the United States to the United Kingdom. The report projects that by 2023, a majority of children in the U.S. will be born outside of marriage. Asia and the Middle East are the exception to this trend; children there are much more likely to be born and raised in intact, married families.
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