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Child care is likely expensive for at least two reasons: - Child care is a superior good (in the economics sense). As we get richer, we almost certainly spend
by kauffj 7y ago
Child care is likely expensive for at least two reasons:
- Child care is a superior good (in the economics sense). As we get richer, we almost certainly spend more of our money on it, as we do in other areas that are substantially driven by signalling (see health care, education).
- It is absurdly regulated and there is nothing close to a free market. My family participates in a child care sharing arrangement that results in several families regularly breaking the law. That is because it is illegal to watch more than 4 children (if at least one of them is not yours) without state licensing.