Economics of arranged marriages has been a topic of great discussion among people. The one fact that is considered very important in arranged marriages is finance, economics and social status. The arranged marriage is a dominant type of matrimony. It is practiced among the rich and poor, urban and regional in various countries.
Economics of arranged marriages for individuals
In arranged marriages, for the person who wishes to get married, the question of concern is not looking for love in the relationship but to see whether the marriage proposal is of certain quality or comes from a high social status or not.
The family, who selects the right spouse for their child, looks primarily for financial security in the marriage. Once they submit their son’s or daughter’s bio data at various places, they begin to receive responses in some time. Out of all the responses received for a suitable match, they are sorted out as per their financial status primarily besides the other important facts such as education, family background etc. The economics of arranged marriages lies in the fact that they give particular concern to money.
The girls, mostly, mostly are not concerned with the nature, attitude and behavioral skills of the boy, but his bank balance. They give importance to the fact that how much he earns and what will he inherit from his family.
The same tale goes with the boy’s family. They consider those girls or families who belong to high financial status in the society. The possible concern here is for the dowry, the cash and gifts that boy receives from girl’s family in marriage.
Economics of arranged marriages for the society
It is well said by a few authors in this concern that arranged marriages can be viewed as a type of social insurance. For the rich class in the society, there are some important economic reasons behind the arranged marriages. For example, in the case of a group of families specializing in the import or export of the certain types of goods, economics of arranged marriages works brilliantly.
With the arranged marriages done among these business families, the scope of business may boom further. They may stay united and become partners than rivals. They may keep their business contacts and skills a secret and make entry barriers for others.
The large and small workers, businessmen and landowners have many incentives from arranged marriages. Probably, this is not a new concept but is practiced since a long time from the era of kings and queens.
Since the last few years, there have been big positive changes in the agricultural and import sector in many countries. The credit, most of the times, goes to the economics of arranged marriages. Perhaps, this is one of those important factors that has kept the concept of arranged marriages moving since generations.