By Lennox Kalifungwa and Christos Makridis | Zenger News
With the highest inflation rates in 40 years, economists are debating whether divorce rates will soon hit historic highs or plunge to new lows.
While divorce has many causes, economists have long noticed a link between inflation and divorce. Some studies suggest higher inflation as a reason for preserved family ties and stronger marriages. These studies claim that economic recession pushes married couples to consider alternative options other than divorce to save costs.
“Financial distress has an ambiguous effect on families. For families facing a lot of personal financial stress, it can fuel marital conflict and instability. But, surprisingly, in the population at large it makes people more appreciative of their family bonds, including their marriages.” said W. Bradford Wilcox, Director of the National Marriage Project at the University of Virginia.
Having taken a keen interest in analyzing the wellbeing of families across the United States, his insights reveal that although economic instability could be the cause of marital friction it often leads to a decline in divorce filings. “So, at least in the midst of major financial traumas, you typically see marital commitment rise and divorce come down. So, if inflation keeps raging, I’d expect marriages to be more stable.” he said further.
“While some economists suggest that a dip in divorce filings in the midst of record inflation is due to renewed familial commitment and stronger marriages, the reality likely isn’t so uplifting. It is more probable that inflation forces many contemplating divorce to make a tough decision – do they stay in a relationship they no longer desire to be in, or face the uncertainty following divorce in a struggling economy? A drastic decrease in household income can be that much more concerning amidst rising food, gas, and housing prices. Economic stress of this nature can cause people considering divorce to feel trapped, often convincing themselves to endure unhappy and even violent relationships in exchange for more financial security.”
-Scott Ghormley, family attorney at Rose Law Group
