The friction we investigate is related to the ownership of children. If parents have no claim on their children’s income, then the private benefit from producin

The friction we investigate is related to the ownership of children. If parents have no claim on their children’s income, then the private benefit from producing a child may be smaller than the social benefit. I have just added this analysis on my folder marked the rubbish heap of economic theories. Linking parenthood to the potential of a parent having some form of financial benefit later on in life is just hot air. I am wondering if the authors have ever seen small feet walking in their lounges.