The institution of marriage builds wealth and economic prosperity. So reported the NZ Herald recently, based on new research. Shortly after, the National Party released its 100-point economic plan. No mention of the “M” word. Hardly surprising – none of the 17 political parties on offer this election addresses this elephant in the room.
And it is an elephant. Economist Professor Melissa Kearney from the University of Maryland makes clear in her research that marriage is a key to building family wealth. And she points out there is not just a correlation between wealth and marriage, there is evidence it is causative – i.e. marriage is one of the key reasons families succeed financially. Kearney notes that “marriage is the institution that most reliably delivers long-term commitment between parents to live together and pool their resources to take care of children.”
That statement is not exactly rocket science. However it’s not popular either. Kearney notes that in spite of the evidence, “this issue has not gotten the attention it deserves as a policy matter or as an urgent matter on a society level, precisely because many folks have decided this is something that should be off limits.” It seems many of our leaders have decided the only thing we are allowed to consider about family wealth is how to tax it – not how to create it.
The problem with this head-in-the-sand approach is that a nation’s economic success is inherently linked to the financial success of its families. When families thrive, nations prosper. Conversely when families fail, governments grow. They grow due to the downstream impact of family breakdown on all the major public cost centres – welfare, justice, health and education.
These costs have been one of the main drivers of our increased tax and debt burden in recent decades. And that burden is a major drag on economic growth. It means we have to run faster just to stand still. Not only that, but a good portion of the economic “growth” which has occurred, does not reflect a genuine increase in prosperity. Increased public spending on police or prisons for instance, may contribute to higher GDP figures, but it hardly represents real social or economic progress.
Given all of this, our political leaders should be lining up to affirm marriage as a key to our long term national prosperity. They should be promoting policies that will rebuild a culture which respects and upholds the formal, lifelong, public commitment between a husband and wife. Because a 10-point plan to affirm marriage would address the roots of our economic malaise – and be far more effective than a 100-point plan focused on the foliage.
Ewen McQueen
October 2023






