While parents spend significant time as well as money on children, most estimates of the "cost" of children ignore the value of this time. Folbre provides a startlingly high but entirely credible estimate of the value of parental time per child by asking what it would cost to purchase a comparable substitute for it.
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activities adults Amartya Sen amount assistance average budgets Chapter chil child care child rearing child support child-care circular flow commitments consumer Consumer Expenditure Survey consumption countries Development devoted to children dren earnings economic economists effect elderly equivalence scales estimates expenditures on children family members fathers federal Feminist Economics Fertility foster care Gary Becker Gender happiness higher household housework increased individuals Inequality Institute intergenerational investment Janet Gornick Journal labor less low-income families measure Medicaid ment mothers Nancy Folbre National Neoclassical noncustodial parents nonmarket norms number of children opportunity cost paid employment parental leaves percent percentage Population poverty poverty line poverty thresholds programs public spending receive relative represent share single-parent Social Security spending on children standards of living Survey TANF tax benefits tion transfers two-child families two-parent U.S. Census Bureau United University Press wage welfare women York