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Trade, Merger and Employment: Economic Theory on Marriage

In this paper I explore two neoclassical theories on marriage which extend the conventional analyses of trade and merger. An alternative perspective on marriage is proposed, which extends a Marxian analysis of employment relations. I develop each of the three theories' implications concerning the nature of power relations between men and women in the family. Finally, I argue that the employment approach produces the most compelling account of the peculiarities of the marriage contract, and of the contemporary unprecedented decline in the proportion of United States women who are married.