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Is love a countercyclical asset?
Or is it the quest for love which is countercyclical?
Here is the full story.
Posted by Tyler Cowen on February 13, 2009 at 03:15 AM in Current Affairs | Permalink
Comments
"And some experts say singles seek the comfort of relationships during difficult times."
Baby this town rips the bones from your back
It's a death trap, it's a suicide rap
We gotta get out while we're young
'Cause tramps like us, baby we were born to run
Springsteen worked this one out long ago.
Posted by: Andrew at Feb 13, 2009 4:16:04 AM
The economy suffers and a lot of relationships suffer along with it. Some end. The boyfriend that used to take you to Dorsia is now unemployed and really into World of Warcraft. People still have needs though.
Posted by: Maxim at Feb 13, 2009 5:34:52 AM
Women tend to have a stronger predilection toward stability versus independence. In a weak economy, they seek out stability and seek it out with much greater vigor than men do.
Posted by: John at Feb 13, 2009 8:00:32 AM
Dating Services as an inferior good? Makes sense to me.
Posted by: db at Feb 13, 2009 8:41:59 AM
Love - the only asset worth more when you give it away.
Posted by: at Feb 13, 2009 8:50:54 AM
Love is an asset?
When you apply a word, such as "asset," to essentially anything, even "love" when it is clearly, at least by the textbook definition, not an asset, then the word loses meaning.
I understand and economists want to deal with issues like love and relationships, but come up with a new word for them. Just labeling them "assets" is academic laziness.
Posted by: Martin at Feb 13, 2009 9:02:14 AM
it is possible to test love only during a downturn.
Posted by: babar at Feb 13, 2009 9:27:11 AM
Seems to me that it's not the amount of dating (or "love seeking" if you will) that's changing but rather the type. What we're seeing here is people consuming less-expensive types of dating, not people dating more. To wit:
"...online dating is a relatively inexpensive way to meet people. Offline matchmakers add that organized dating events are cheaper than financing a series of potentially stultifying meals with blind dates."
Posted by: mravery at Feb 13, 2009 9:43:15 AM
Or is it the quest forlovefree dinner which is countercyclical?
Fixed!
Posted by: ck at Feb 13, 2009 10:05:33 AM
If you can't find a job, you can always try to find a sugar daddy. Baby it's cold outside.
Posted by: at Feb 13, 2009 10:36:06 AM
I think Maxim is right: divorce/breakup rates get higher in recessions. Here's some evidence on (international) divorce and good related discussion:
http://www.economist.com/world/international/displaystory.cfm?story_id=13057235
Posted by: sd at Feb 13, 2009 10:54:35 AM
I've been married 30 years. I suggest drinking heavily.
Posted by: T. Shaw at Feb 13, 2009 10:58:48 AM
But maybe sex is procyclical?
http://www.ehbonline.org/article/S1090-5138(08)00117-7/abstract
Posted by: Paul at Feb 13, 2009 11:13:41 AM
does it change what asset might be at issue if noting that the matchmaking service's business is up 40% among women?
Posted by: Becky Sharp at Feb 13, 2009 11:14:28 AM
I think Andrew quoted the wrong Springsteen lyrics:
Girl, ain't no kindness in the face of strangers
Ain't gonna find no miracles here
Well you can wait on your blessings my darlin'
But I got a deal for you right here
http://www.youtube.com/watch?v=Top0ZUzg5bQ
Posted by: at Feb 13, 2009 12:26:46 PM
Maybe it's not because singles have more time because of unemployment. Maybe unemployment is breaking up relationships, creating more singles?
Posted by: Sune at Feb 13, 2009 1:56:50 PM
I'd think women would be more willing to settle (rather than wait for someone better) in hard economic times than in good economic times.
Posted by: nelsonal at Feb 13, 2009 3:12:29 PM
are whores cheaper during a recession? I'm volunteering to do some field research on this one. :). have a good weekend all!
Posted by: Mr. Beefy at Feb 13, 2009 5:00:26 PM
Maybe it's just that we're all getting *&%^ed.
Posted by: Buce at Feb 13, 2009 9:33:33 PM
Since 82% of layoffs have been among men, this surely can't be because women have a lot more free time. My bet: women are dumping their now unemployed boyfriends.
Posted by: Bob Smith at Feb 14, 2009 1:04:40 PM
Love outside of its symbolic meaning serves a number of practical
purposes. During our lives we have overwhelming impulses to find a mate,
coupled with hard times especially in terms of economics, it is not a
surprise that sites like match.com are doing well. It is more practical to
find someone in the most efficient manner possible, to ensure a person gets
someone best suited for them with the least hassle and cost. The increase
in women's business directly relates to what I've learned in Evolutionary
Psychology. There are exceptions, but generally speaking women desire men
with resources and in times such as this recession it can only be
heightened. Comfort, love, etc. are important of course; there is no denying
the importance of financial stability along with that though. Overall
well being on a emotional as well as on a practical level are innate in all
of us. So in a corporeal sense it is more financially stable to have a mate that
can provide and be help as a tax benefit as well as serve to ease our
often strenuous existences emotionally.
Posted by: Chris M. at Feb 16, 2009 1:59:31 PM
Chris M, I take issue with your comment. Are you so up your own posterior that you're actually suggesting that women marry for money? How insensitive and chauvinistic can one get? You sir are a clod. A half-witted, mongoloid, Pollock, clod. Your evolutionary psychology class must be taught by a retarded fish. You would be wise to go back to your cell at the mental health repository. I can very well imagine you, sitting over your computer, breathing through your mouth, attempting to string together your thoughts-a word which I use loosely. Your mother was remiss in her conception of you. It's as though you are of Polish descent. If you and I were to engage in a chess match, I'm confident that I would succeed in not losing that match. Your comment lacks substance. Such a concentration of pure failure of thought, I have not seen in all my years of being alive. I would tone down my criticisms of you, were I confident that you would have the capacity to understand them.
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