Via Instapundit and Mere Orthodoxy:
…you can’t understand today’s economy—from the need for human capital to rising inequality— without considering the platoons of moms, dads, and children that form the backbone of American society. And the situation is not pretty. The American family is in a state of crisis, which in turn is having a profound impact on the economy.
Why 'The Family' Matters in Economics | Mere Orthodoxy | Christianity, Politics, and Culture
Points:
- “[Nick Schulz] concludes as former Secretary of Education Bill Bennett did, finding that the ‘family is the original and best Department of Health, Education, and Welfare.’”
- “…’family structure was one of the four factors with a clear relationship to upward mobility.’”
- “…American families now seem to follow two tracks: those of the upper-middle class, where family institutions remain relatively strong, and those of the lower-middle class, where family instability is distressingly common.”
- “…the risks of failing are far too high when kids are raised in the context of relational instability. Socioeconomic mobility and multigenerational poverty are empirically linked to family stability like never before.”
- “Family builds empathy and self-control, which in turn shapes character. Character fosters human capital (“knowledge, education, habits, willpower”) and social capital (assets “created and maintained by relationships of commitment and trust”), which ultimately generates economic growth.”
- “…entrepreneurial creativity is in fact motivated and grounded in a strong family structure.”
Ponder: “Improving the incentive structure behind family formation should be the utmost priority of any coherent political platform.”
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