Math Geek Mom: On not sitting it out

Rosemarie Emanuele:

Labor economists have an interesting way of looking at leisure time, and it should not come as a surprise to anyone at this time of the year. We call most things that we can buy "normal goods", because more income generally leads us to buy more of such things. Along these lines, we recognize that leisure is actually a "normal good", and something that is desired and, in a sense, "purchased" when we take time out to enjoy ourselves rather than use that time to work and earn money. Such a view of leisure leads to the result that it is possible that, as wages increase, people will use that increased income to buy more leisure. Thus, while one normally thinks of increasing wages as leading to people working more, it is possible that higher wages could actually cause people to work less, as the potentially increased income from higher wages is used to "purchase" more leisure time. This is a theoretical possibility called the "backward bending labor supply curve." I found myself thinking of this last weekend as I splashed in the city pool with my daughter, and could well imagine a world in which I would want to use every extra penny to buy such warm summer weekends with my family.

When we adopted my daughter, we put together a CD of songs that had special meaning to us and called it "Waiting for our Daughter", with the intention of giving it to her some day, so she could capture some of the emotion of that moment. Included in it were songs that were popular in the months leading up to her adoption, as well songs that had special meaning to us, such as "Return to Pooh Corner", which still makes me, a lifelong Pooh fan, cry. Also included in the CD was the song "I Hope You Dance". Its refrain sings "when you get the choice to sit it out or dance, I hope you dance". I see it as a song that reflects the life affirming joy that I want to pass on to my child.

Posted by Jim Zellmer at July 3, 2010 1:01 AM
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