Wednesday, July 20, 2011

Marriage and Economics

Even before reading the article that published in Business Line on “Economics of marriage, ‘my little stupid brain’ had begun chanting on it. When the article spoke about the competitive advantage and economics of sex within marriage I was more interested in the employment opportunities that each marriage or any other similar ceremony generates, and on the purchasing power that gets transferred from one party to another, in Indian scenario, to a large extends, from the bride’s family to the groom’s and the conspicuous consumption pattern arose during those seasons.

I feel, in the current scenario, each marriage is a period of emergency for the family. I mean financial crisis. I have seen many middle class parents, who had to sell of their property to get the girl off , or have to opt for loans to meet the dowry and other expenses. This trend is pretty evident in the middle and lower strata of the society. The girl who comes in bring purchasing power and who go out leaves behind her a huge liability. In the lower strata where the disposable income is meager, the boy’s marriage is one occasion for acquiring , electronic, automobile and other consumer durables. And in many cases, the girl’s family has to fund for the wedding expenses at the groom’s side.

People say, marriages happen in heaven. I can't comment on that. But I would say, the this institution begins in a bubble formed out of prestige, show offs and bank loans. Marriage is a prestige issue for many, forcing them to copy the extravagant pattern followed at the upper side of pyramid. Now a days I can see even guys opting for loans to fund their marriage!!!! Its unfortunate to see or experience the priorities being shifted... to money power than to the mutual understanding, love and respect. Money is the basis of love especially in arranged marriages. You yearn for money and then for a partner. And ultimately it ends up as a ceremony that merchants,banks and money lenders celebrate.

PS: I am not generalizing. But this is what i have observed from my surrounding. Exceptions are there.