Royal Moral Hazard


Mazel tov to Prince William and Kate Middleton on their engagement! There’s nothing we like more than two love birds deciding to tie the knot and get hitched in front of one billion people (no pressure).

But a word of warning to the future queen of England: marriage isn’t all castles and kilts. Here’s William, offering a taste of things to come:

“I get quite lazy about cooking because when I come back from work it is the last thing I want to do, really is spend loads of time cooking. When I was trying to impress Kate I was trying to cook these amazing fancy dinners and what would happen was I would burn something, something would-overspill, something would catch on fire and she would be sitting in the background just trying to help, and basically taking control of the whole situation, so I was quite glad she was there at the time.”

Will was trying to learn new things and impress Kate when he was wooing her. But now that he’s got the girl, he can kick back and go shoot some pheasant while she handles things at home. That’s what we here at Spousonomics call moral hazard. It’s what happens when you act like there are no consequences  to your actions (think banks lending to felons since they know Uncle Sam will bail them out).  When it comes to marriage, moral hazard comes into play when you assume your spouse will always be there no matter what–even if you gain 50 pounds, never exercise, avoid sex and never bother to make a fancy dinner again.

So here’s our advice to the happy couple: Always invest in your marriage. Even if it means burning the bangers and mash while cooking for your princess.

photo by downing street at flicker

Posted in moral hazard

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