Family Values

Recent research from John Ermisch, as Essex economist, concludes that the mere possession of a university degree makes children 20% less likely to phone their mothers regularly, and a more 50% less likely to pay them a visit. This is puzzling because self-interested children might be expected to behave in the opposite way since they’d have a lot of patrimony to lose by cutting back on the fawning. But, according to the Ermisch, rich kids are such brats because of the:

a) Diminishing returns theory: It isn’t worth the children’s time to help with daily chores, particularly since affluence helps to increase the distance b/w parents and children. In other words, as their income increases, the marginal cost of providing service goes up. And, since personal contact correlates with telephone contact, they are less likely to phone, too. Out of sight, out of mind.

b) Strategic bequest theory: Children provide only enough service to ensure that they get a reasonable share of the inheritance. Wealthier families, which tend to be smaller, fail to ensure the optimum amount of competition.