The authors creatively use basic economic theory to integrate and interpret a vast body of evidence from multiple disciplines. Doepke and Zilibotti explain how and why parents shape child preferences and skills to adapt their offspring to the anticipated social and economic realities facing them as adults. “ Love, Money, and Parenting presents a fascinating, insightful analysis of the origins and consequences of different parenting styles over time and place. "N/A"-Alexandra Martynenko, Antropologicheskij Forum "The book introduces stimulating ideas in an accessible manner."-John Ermisch, Journal of Economic Inequality "All in all, a highly informative read."-David Lorimer, Paradigm Explorer For better and worse, their parenting style is perfectly rational."-Kay Hymowitz, Institute for Family Studies "As economists Matthias Doepke and Fabrizio Zilibotti reveal in their recent book Love, Money, and Parenting: How Economics Explains the Way We Raise Our Kids, today’s American parents are not so crazy after all. When it comes to raising Americans kids, it’s the economy, stupid."-Patrick A. "An earnest tilt at a genuinely hard question: To what degree are parental choices informed by economic realities? Reducing his answer to a single line is reductive, but let’s do it anyway. Rather, parents today are rational economic actors responding to an increasingly unhinged environment."-Jenny Anderson, Quartz "Why do so many seemingly sane people get over-involved with their kids? The answer is not that parents have collectively come unhinged, according to the new book Love, Money and Parenting: How Economics Explains the Way We Raise Our Kids. "An incisive look at parenting and economic inequality."-Carolyn Dever, Public Books But done right, it works for kids, not just in the United States but in rich countries around the world."-Pamela Druckerman, New York Times It’s true that high-octane, hardworking child-rearing has some pointless excesses, and it doesn’t spark joy for parents. That’s the message of the book Love, Money and Parenting: How Economics Explains the Way We Raise Our Kids, by the economists Matthias Doepke of Northwestern University and Fabrizio Zilibotti of Yale. But new research shows that in our unequal era, this kind of parenting is essential. "Psychologists, sociologists and journalists have spent more than a decade diagnosing and critiquing the habits of ‘helicopter parents’ and their school obsessions. Love, Money, and Parenting presents an engrossing look at the economics of the family in the modern world. Doepke and Zilibotti discuss how investments in early childhood development and the design of education systems factor into the parenting equation, and how economics can help shape policies that will contribute to the ideal of equal opportunity for all. In nations with less economic inequality, such as Sweden, the stakes are less high, and social mobility is not under threat. Growing inequality has also resulted in an increasing “parenting gap” between richer and poorer families, raising the disturbing prospect of diminished social mobility and fewer opportunities for children from disadvantaged backgrounds. Economics has transformed the hands-off parenting of the 1960s and ’70s into a frantic, overscheduled activity. Through personal anecdotes and original research, Doepke and Zilibotti show that in countries with increasing economic inequality, such as the United States, parents push harder to ensure their children have a path to security and success. From medieval times to the present, and from the United States, the United Kingdom, Germany, Italy, Spain, and Sweden to China and Japan, Matthias Doepke and Fabrizio Zilibotti look at how economic incentives and constraints-such as money, knowledge, and time-influence parenting practices and what is considered good parenting in different countries. Why? Love, Money, and Parenting investigates how economic forces and growing inequality shape how parents raise their children. For instance, American and Chinese parents are increasingly authoritative and authoritarian, whereas Scandinavian parents tend to be more permissive. Yet how parents seek to achieve this ambition varies enormously. Parents everywhere want their children to be happy and do well.
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