Is it worth having kids?
Summary
TLDRThis video explores the complex decision of having children, highlighting the emotional and financial implications. It discusses the happiness bump experienced by parents, which is often short-lived, and the significant costs associated with raising a child. The script also touches on the impact of parental leave policies, gender dynamics, and societal attitudes on fertility rates. It concludes by acknowledging the challenges of parenthood but also the profound joy and fulfillment it can bring.
Takeaways
- đ€ The decision to have children is a significant one, with both emotional and practical considerations, and it's becoming less common in wealthier societies.
- đ¶ Children, while a source of joy, can also be a considerable financial burden, affecting everything from daily expenses to long-term savings and retirement planning.
- đ There is a 'happiness bump' associated with having children, where happiness levels peak around the time of birth but then tend to return to pre-child levels.
- đ Academic research suggests that life satisfaction, mental health, and happiness levels between parents and non-parents are quite similar across different countries.
- đŒ The presence of children can lead to stress and time constraints, potentially affecting parents' careers and income, especially for women who often face the 'motherhood penalty'.
- đ Historically, children were seen as economic assets, but as societies have become wealthier, the economic incentives to have children have diminished.
- đ There has been a global shift in attitudes towards having children, influenced by factors such as higher education levels, increased female employment, and changing gender dynamics.
- đ° The costs of raising a child are substantial, starting from fertility treatments and extending to education and daily living expenses, which can reach hundreds of thousands of dollars.
- đ„ Differences in parental leave policies around the world greatly affect the financial and emotional well-being of parents, with some countries offering more generous support than others.
- đšâđ©âđ§âđŠ Parenthood can affect gender roles and work-life balance, with implications for career progression and income, especially when considering the division of unpaid labor.
- đ± Despite the challenges, many parents find the experience of raising children to be rewarding and enriching, with deep emotional fulfillment that can outweigh the difficulties.
Q & A
What is the general trend in birth rates in the rich world?
-The general trend in the rich world is that fewer children are being born, indicating a decline in birth rates.
What potential long-term economic impact could a decrease in birth rates have?
-A decrease in birth rates could lead to fewer young workers to support the elderly, potentially causing economic disruption and a change in the labor force.
How does having children initially affect a mother's happiness levels according to the script?
-According to the script, mothers' happiness levels rise in the years leading up to giving birth, peaking at the time of the child's birth.
What is the term used to describe the temporary increase in happiness levels experienced by new mothers?
-The term used to describe this phenomenon is a 'happiness bump'.
What does research suggest about the long-term happiness levels of parents compared to non-parents?
-Research suggests that in the long-term, the levels of happiness and life satisfaction, mental health, and loneliness are quite similar between parents and non-parents.
What are some factors that affect a parent's happiness according to the script?
-Factors such as income, being a single parent, and the strength of a country's welfare system can affect a parent's happiness.
What is the estimated cost of raising a child to the age of 17 for a typical American family as mentioned in the script?
-The estimated cost for a typical American family to raise a child to the age of 17 is almost $300,000.
How does the script describe the financial implications of having a second child for Jessica and Andrey?
-The script describes the financial implications as significant, with increased costs for education and the necessity to adjust their budget to accommodate another child.
What is the term used to describe the pay differential between mothers and other types of employees?
-The term used is 'motherhood penalty', which essentially refers to a procreation pay gap.
How does parental leave policy in the United States compare to other rich countries?
-The United States is the only rich country that doesn't have nationwide statutory paid parental leave, offering only 12 weeks of unpaid leave with many restrictions.
What are some of the non-financial factors that influence the decision to have children?
-Non-financial factors include cultural ideals, the influence of religion, the compatibility of motherhood with careers, and gender dynamics within a relationship.
Outlines
đ€ The Complexities of Deciding to Have Children
This paragraph explores the significant life decision of having children, touching on the emotional and financial aspects. It mentions the joy children can bring but also the considerable costs associated with raising them. The script discusses the impact on happiness levels, suggesting that while there is an initial 'happiness bump' for mothers, it eventually returns to pre-child levels. It also highlights how societal changes, such as increased female education and employment, have contributed to a reduction in birth rates, especially in wealthier nations. The paragraph concludes by emphasizing the stress and time investment that come with parenthood, despite moments of happiness.
đ° The Financial Burden of Raising Children
The second paragraph delves into the financial implications of having children, emphasizing their high cost. It outlines the expenses from birth to adolescence, including fertility treatments, hospital bills, and daily necessities. The script points out the lack of nationwide statutory paid parental leave in the U.S., which can strain family budgets. It compares parental leave policies in various countries, showing that some offer more support than others. The paragraph also touches on the 'motherhood penalty,' where women often experience a significant and long-lasting decrease in earnings after having children, affecting their career progression and financial stability.
đ©âđŒ The Impact of Parenthood on Women's Careers and Earnings
This paragraph focuses on the career and earnings consequences of motherhood, particularly the 'motherhood penalty.' It describes how women often face a significant pay gap due to the traditional division of labor within families and the lack of support for working mothers. The script discusses the founder of 'Pregnant Then Screwed,' Joeli Brearley, who advocates for better support for mothers in the workforce. It also examines the impact of parental leave policies in different countries on gender pay gaps and work-life balance, highlighting the benefits of longer, better-paid paternity leave in Scandinavian countries. The paragraph concludes by discussing the macroeconomic implications of low fertility rates and the potential role of government intervention.
đ¶ The Emotional and Practical Considerations of Parenthood
The final paragraph reflects on the emotional and practical considerations of choosing to have children. It acknowledges the challenges of parenthood, such as the need for more generous parental leave, affordable childcare, and workplace flexibility. Despite these challenges, the paragraph conveys that those who decide to become parents often find the experience deeply rewarding and rarely regret it. It concludes with personal testimonials from parents who express the profound joy and fulfillment they have found in raising children, despite the difficulties.
Mindmap
Keywords
đĄProcreation
đĄHappiness Bump
đĄWelfare Systems
đĄParental Leave
đĄMotherhood Penalty
đĄChildcare Costs
đĄFertility Rates
đĄGender Dynamics
đĄSecularisation
đĄFeminism and Women's Rights
đĄEconomic Incentives
Highlights
The decision to have children is complex, involving both emotional and financial considerations.
There is a trend of declining birth rates, especially in wealthier countries, which could lead to a shortage of young workers to support the elderly.
Happiness levels for mothers peak around the time of childbirth but tend to return to pre-child levels within a few years.
Academic research shows that life satisfaction, mental health, and loneliness are similar between parents and non-parents.
Parenting can be stressful and time-consuming, often leading to worries and a decrease in personal time and energy.
The economic incentives for having children have changed as societies have become wealthier, with less reliance on children for support in old age.
The costs of raising a child are significant, starting from fertility treatments and extending to education and daily expenses.
The lack of nationwide statutory paid parental leave in the U.S. puts a financial strain on families.
In countries with more generous parental leave policies, there is a more equal distribution of unpaid labor and a smaller gender pay gap.
The 'motherhood penalty' refers to the significant and long-lasting pay gap experienced by mothers compared to other employees.
Remote working has provided some flexibility for parents, but not all jobs offer this option.
High childcare costs can be a barrier to having more children, as seen in the experiences of families in the U.K. and U.S.
Falling birth rates can cause economic disruption, prompting questions about potential government interventions.
Governments should support families without being coercive or restricting personal freedom in family planning.
Cultural ideals, religion, and gender dynamics play significant roles in the decision to have children.
Despite the challenges, many parents find the experience of raising children to be rewarding and enriching.
The film explores the complex interplay between personal fulfillment, societal expectations, and economic realities in the decision to have children.
Transcripts
Do you want to have kids?
If so, when and how many? Itâs a big decision
They may be small bundles of joy, but they can cost a fortune
As people weigh up the pros and cons of procreating...
...fewer children are being born, especially in the rich world
And in the long-term, this can mean fewer young workers to support the elderly
So is it worth having kids?
I went back and forth a lot in the beginning
A lot of thought that went into...
...weighing the options of both having kids and not having kids
Jessica and her husband, Andrey...
...live in Houston, Texas, with their two-year-old son, Michael
The day he was born I was overcome with a lot of emotion, happiness, just joy...
...itâs crazy
So having children makes people happy, right?
In the short-term, yes...
...but in the long-term, not necessarily
According to academics...
...itâs likely Jessica was experiencing whatâs known as a happiness bump
Mothersâ happiness levels rise in the years leading up to giving birth...
...but thatâs where they peak
And within a few years, return to the level they were before the kid was born
Weâve been studying men and women in couples with and without children...
...and we see that their levels of happiness and life satisfaction...
...mental health and loneliness are quite similar
Thatâs quite consistent across a lot of different countries
Some factors do affect peopleâs happiness, such as their income...
...and whether they are single parents
Parents and countries with stronger...
...welfare systems also report higher levels of happiness
But all in all, there isnât much difference...
...between the life satisfaction of parents and people without kids
While there might be moments during the day...
...that are filled with happiness...
...the more typical experience is that being together with your children...
...can be quite stressful
It also takes up much of your time and energy
It brings with it a lot of worries
Letâs do downward facing dog together, ready?
I thought motherhood would be, you know...
...you see all the stuff in the movies...
...I really thought that it would be this beautiful time...
...where youâd have a great relationship with your kid...
...but also, you know, a little bit of hard work, too, that...
...I donât think I understood before we decided to have Michael
About 80% of parents in America say parenting is enjoyable...
...but almost 30% also admit itâs stressful, all or most of the time
If children wonât make you happy, why have them?
For most of history, people had lots of children...
...which made financial sense because kids could work in the fields...
...and look after their parents in old age
But as societies have grown richer...
...there has been a reduction in procreation
Weâve seen a change in why people have children...
...and the economic incentives to having children
So as we have more countries offering...
...pensions, older adults are less reliant...
...on their adult children to provide for them in their older years
And at the same time, we see more women...
...getting higher levels of education, being employed
We also see a change in attitudes
A move towards secularisation, so less importance of religion
A rise in feminism, a rise in womenâs rights...
...and childhood extends...
...because we need to educate our children longer...
...so the costs of raising children go up
And kids can be costly
The costs start even before birth
Fertility treatment for those who need it is expensive
And in some countries, giving birth in a hospital can cost thousands of dollars
Then thereâs food, clothes, nappies, toys, baby carriers and prams
The Economist has calculated that a typical American family...
...can expect to spend almost $300,000 raising a child to the age of 17
Factor in college tuition and it rises to over $400,000
For Jessica and Andrey in Houston...
...those costs are about to go up even more...
...theyâre expecting their second child
Oh, no, letâs not touch that
The financial implications are big
Children are expensive
I mean, there is less stuff to buy...
...you know, just because we already have...
...you know, a car seat and all that stuff from Michael
We are saving for education and all that stuff for two kids instead of one
The strain on Jessicaâs and Andreyâs budget...
...is not helped by the fact America is the only rich country...
...that doesnât have nationwide statutory paid parental leave
Instead, federal policy is just 12 weeks of unpaid leave...
...but there are so many restrictions
Only 56% of workers are eligible...
...and many feel they canât afford to sacrifice their salary for this long
At the time when Michael was born...
...I was the primary breadwinner for our family
I did not get paid maternity leave
That definitely played a role in terms of deciding...
...how long of a maternity leave to take
Then after two months, I went back to work full-time
It was definitely hard leaving Michael after two months...
...just because thatâs around the time when kids...
...start to become a little bit more interactive
Babies start to smile...
...so I almost felt like I was missing out on something...
...by going back to work so soon
Statutory parental leave in rich countries varies greatly
In Japan, parents are given about a year of paid parental leave each...
...of which half is paid at about...
...two-thirds of their normal salary
In Finland, parents are given about 14 months of paid leave to share
Theyâre also entitled to take further child-care leave up until their child is three
In Britain, a motherâs job is guaranteed for a year...
...but only six weeks are paid at almost full salary
A further 33 weeks are paid, but at a much lower level
It means Britain has one of the least generous leave policies in Europe...
...which can make it harder for some Brits to balance their budgets
What do you like mixing into pancakes?
Chocolate eggs
Faye lives in the south of England with her husband Matt...
...and their three-year-old daughter Eloise
Ready, last one. Do you want to do it with me?
I took 12 months maternity leave...
...so the last three months of maternity leave were unpaid, unfortunately...
...but it was something that we sat down...
...and worked out that we could achieve financially...
...with my husband doing extra overtime
Even before those final three months...
...there isnât a huge amount of pay for maternity leave
We just had to be financially very conscious of what we were spending
Yeah you can still find all the edge bits first canât you?
And those challenges donât end when the parent goes back to work
When we were looking at our finances, we didnât really factor in nursery costs
When we then looked at child-care costs, it was huge
Some months she was going two days a week and some months...
...it was more than our mortgage
The costs are sometimes crippling
In six OECD countries...
...couples earning the average wage spend over 20% of their salaries on child-care
Britain has the joint second-most-expensive child-care in the world
We have thought about having another child...
...unfortunately, the cost side of things does have a big impact
I could give up work, but I donât want to rely on benefits or income support
We want to be self-sufficient
If that means not having another child...
...because of the financial implications...
...itâs upsetting because we would love to have another one
Itâs not just in Britain
A survey of young American adults...
...found that of those who said they have, or expect to have...
...fewer children than theyâd like...
...64% cited childcare costs as a reason
Hi, Iâm Anna and I directed this film
If youâre enjoying watching it, you might be interested to know...
...that Economist subscribers get access to a wealth of global analysis...
...on every conceivable topic
You can read it, you can listen to it, you can even be part of it at live webinars
For the best deal on a subscription, click on the link
And now on with the film
Itâs not just the direct costs
Having kids can also affect how much mothers earn
Most parents experience a loss in take-home pay when they take parental leave
Men in heterosexual relationships experience a very small, short-term dip...
...but for women, the dip is much bigger and their earnings rarely recover
This is known as the motherhood penalty
Joeli Brearley is the founder of the British charity, Pregnant Then Screwed
The motherhood penalty is the pay differential between mothers...
...and other types of employees
Itâs essentially a procreation pay gap
When you have a baby, the way that our parental-leave system functions...
...it encourages women to take long periods of time out of the workforce
It doesnât encourage men to do the same
In most heterosexual couples, the father will earn the most money
So when women look to return to work, they look at the cost of child-care...
...and they compare it to their own salary...
...and in most cases it doesnât add up
They then start to make career sacrifices
They look to return part-time, if at all...
...or they change jobs to something thatâs more suitable...
...so that they can continue to do the lionâs share of the caring and the unpaid labour
And so all of this starts to hack away at their income and their career progression
In Britain, mothers are three times more likely to work part-time than fathers
Following the pandemic, the shift to remote working...
...has made it easier for some parents to work more flexibly
But not all jobs allow this
My work are very flexible, but itâs a juggle and at times just trying to work out...
...my working pattern to be able to make it worthwhile...
...me actually working and financially contributing to the house
I work office hours and my husband does shift work
Iâm only three hours off full-time, so legally...
...and technically I am a part-time worker
Itâs the most amount I can work that...
...I then donât have to spend all of it on child-care
Motherhood penalties vary across the world
One study looks at motherhood penalties in six rich countries
It finds that Germany, a country where a lot of women work part-time...
...had the worst penalty, with a 61% drop in long-run earnings...
...while Denmark and Sweden had the smallest but still sizeable penalties
Thatâs partly because Scandinavian countries...
...have longer and better paid paternity leave
Weâve seen as a result of that in Sweden...
...that many more dads are taking time out of the workplace to care for their children
And as a result of that, weâve seen that the gender pay gap is much smaller...
...the share of the unpaid labour is far more equal
Over the last 50 or 60 years, weâve seen big changes in gender dynamics...
...and in countries where weâve seen that men have become more equal partners...
...with women in raising kids
We see that fertility rates are actually higher than in similar countries...
...where men arenât contributing as much to child-rearing and housework
Take Japan...
...where women spend far more time on household chores and child-care...
...than men do, making it much harder for women to have a career...
...and raise children despite having some of the most generous maternity...
...and paternity leave on the planet
Which might explain why Japan has one of the lowest fertility rates in the world
In nearly all rich industrialised countries...
...fertility rates have fallen below 2.1 children per woman...
...the rate needed to maintain a stable population
And on a macroeconomic level, that can cause problems
So if fertility falls low enough...
...then there are potentially not enough workers in the next generation...
...in the long-term, it means a change in the labour force
How many workers are available
How much money those workers are paying into pension programmes
Into taxes?
Most industrialised countries are pretty far from that level...
...although there are few that have seen really dramatic reductions in fertility
More open immigration policies could help...
...but few countries seem willing to consider them
So if falling birth rates can cause economic disruption...
...should governments intervene?
We want to be careful that governments arenât doing things that are coercive...
...or that unduly restrict peopleâs freedom to have the kind of families...
...and the number of children that they want
But there is a role for government, for supporting families with children...
...and in many countries, there is certainly a lot more room...
...for investment from the public sector
But itâs not just about the economics, although thatâs part of it
But itâs also about cultural ideals
Itâs about the influence of religion
Itâs about the compatibility of motherhood and careers...
...and itâs about gender dynamics
Choosing to have children is a big decision...
...governed by deep emotions as well as practicalities
More generous parental leave, cheaper child-care and flexibility at work...
...might make the decision a bit easier
But despite the challenges of parenthood...
...those who do choose to have babies rarely regret it
Being a mom has come with its own struggles...
...and redefining your own image to yourself
But yeah, at the end of the day...
...life is just fuller with a new person in your family
Itâs the hardest thing you ever do becoming a parent...
...but itâs the most rewarding
Iâve never experienced...
...such extreme levels of joy and happiness and elation and pride...
...as I have since Iâve had children
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