ECN 340 Chapter 5: ECn340 Chapter 5.docx
24 Feb 2013
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Document Summary
From an economic perspective a marriage can be treated as a contract where if it were broken it can be enforced by the law. Both parties make a commitment to their own responsibilities, they recognize the rights and priveliges of the other and both agree to a certain set of rules and to the changes made. The reason people marry os to give the couple a chance to work out the rules and to create a contract that they will be both held accountable by it. No set ground rules can cause disagreement among people anad result in divorce. Because people have conflicting views of what a marriage should be, marriages never happen. Divorce can arise as a result of the lack of investment of enough resources due to a miscalculation of the resources needed or that they see the benefits from creating the contract is less than the cost.
