A newish blog to support the forthcoming book, Spousonomics: Using Economics to Master Love, Marriage, and Dirty Dishes. Here, co-author Jenny Anderson interviews economist Daniel Hamermesh.
What’s the most important lesson economics has taught you about your own marriage?
It has taught me the role of compromise. To quote a song by Diamond Rio, “We’ll gain a lot of ground ‘cause we’ll both give a little, Ain’t no road too long, if you meet in the middle.” It has also taught me to think about the subtleties of comparative advantage and to recognize that preferences matter too. To wit: I earn about twice as much per hour as my wife; and she’s a much better cook than I am. Yet I do much of the cooking, because my schedule is more flexible, so that the cost to me of getting dinner on the table at a reasonable time is lower than it would be to her.
Here, she answers "What's the point of marriage?".