In a modern economy, personalized human attention is a scarce and pricey commodity.
As a parent of three children under the age of 5, I empathize with Sen. Ruben Gallego. The Arizona Democrat posted on X last week about securing a spot at a local day care center for his daughter, only to find that it’s more expensive than tuition at Arizona State University. My wife and I, two professionals in a major metropolitan area, are facing the same crunch; we’re paying more than $5,000 for child care each month.
When I look at that price tag as a father and household budgeter, I can’t help thinking, “The cost of child care is too damn high.” But when I think like an economist, I understand why.
Child care is expensive because it is labor-intensive. In a modern economy, personalized human attention — the loving care parents want for their kids — is scarce.
Continue reading the entire piece at The Washington Post (paywall)
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Jordan McGillis is City Journal’s Economics Editor.
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