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Published on Sep 25, 2009
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