Anorak | Rich People Are Bastards, Aren’t They? We Have Proof!

Rich People Are Bastards, Aren’t They? We Have Proof!

by | 24th, August 2011

RICH people are bastards, aren’t they? And look, here we have it, absolute proof !

Increasing a person’s wage can cause a significant drop in the amount of time they spend helping their parents with household chores, errands and transport.

For every ten per cent rise in their salary women will spend 36 per cent less time providing care and men will reduce their input by 18 per cent.

The more people get paid the less they are willing to take care of those aged parents who sacrificed the best eyars of their lives to have and educate them.

Bastards, eh?

That’s not really quite what the researcher found although I’d not be surprised to see it reported that way at some point. Along with the idea that if we just taxed the rich more then they’d be nicer to their parents.

The full paper is here and there’s two things to note. Firstly, that it’s from Kiev: how wondrous to see good economics coming out of the East after the near century of communist lunacy. The second is that it is good economics, just not surprising economics. What she’s done is measure, more carefully then others had before, what we were all pretty sure was happening.

Think of it this way: there’s three things we could be doing. Looking after aged parentals, going to work or loafing about at our leisure. How much of each we do will depend upon the relative prices of each of them. Price here doesn’t mean just cash, in fact what we’re really talking about is opportunity cost: how much of one do we have to give up to do either of the other two.

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Posted: 24th, August 2011 | In: Money Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink