Marriage is one of the oldest and most enduring social institutions, functioning not only as a cultural and religious practice but also as a central economic arrangement. Its historical evolution reveals how deeply intertwined it has been with systems of wealth, labor, and social organization. From its early role in kinship alliances and resource pooling to its contemporary function as both a personal and economic choice, marriage has reflected and shaped broader economic transformations. This essay traces the history of the economics of marriage, highlighting key transitions and scholarly contributions to the study of this institution.
Marriage in Ancient and Traditional Economies
In pre-modern societies, marriage primarily functioned as an economic contract. Families used marriage to consolidate wealth, strengthen kinship networks, and ensure survival in subsistence economies. Practices such as bride price, where a groom’s family transferred wealth to the bride’s family, and dowry, where property was given with the bride, exemplify the material basis of marital unions (Goody, 1973). Women were often viewed as productive assets within households, providing agricultural labor, domestic work, and reproductive capacity. Thus, marriage was less a matter of individual preference and more a strategic economic arrangement for families and communities.
Feudal and Agrarian Economies
During the medieval and agrarian eras, marriage became closely tied to land ownership and inheritance. Families used marital alliances to secure estates and political power. The legal doctrine of coverture, established in English common law, meant that a married woman’s property and legal identity were subsumed under her husband’s authority (Staves, 1990). For women, marriage was often the only viable pathway to economic security, given limited access to property rights and wage labor. As historian Lawrence Stone (1977) notes, aristocratic marriages in Europe were explicitly arranged to protect dynastic wealth, demonstrating the institution’s centrality to elite economic strategy.
Early Modern Era
The seventeenth and eighteenth centuries introduced shifts in the economic dimensions of marriage, particularly with the rise of commerce and early capitalism. Merchant families frequently arranged marriages to expand trade networks and secure business partnerships (Coontz, 2005). Although romantic love began to gain prominence in marital decision-making, economic security remained a primary consideration. Women’s limited participation in the labor market meant that their economic survival often depended on marrying advantageously. Marriage thus continued to function as a key institution for wealth transmission and social mobility.
The Industrial Revolution
The Industrial Revolution marked a profound transformation in the economics of marriage. The shift to wage labor created a stronger division between the public and private spheres, reinforcing the male breadwinner–female homemaker model (Folbre, 1986). Men increasingly became wage earners, while women’s unpaid domestic labor was essential to household survival. Although this division entrenched gender inequalities, marriage became an important mechanism for pooling resources in industrial economies. Legal reforms such as the Married Women’s Property Acts in Britain and the United States began to grant women rights over their own earnings and assets, slowly altering the balance of power within marriage (Shanley, 1989).
Twentieth-Century Transformations
The twentieth century witnessed significant changes in the economic foundations of marriage. Expanding access to education and paid employment gave women greater financial independence, reducing the degree to which marriage was necessary for survival.
The development of welfare states in Europe and North America also lessened reliance on the economic security traditionally provided by marriage. At the same time, academic interest in household decision-making expanded. Nobel laureate Gary Becker’s “A Treatise on the Family” (1981) introduced the influential “New Home Economics” framework, which conceptualized marriage as a rational economic partnership. According to Becker, marriage allowed individuals to specialize in different forms of labor—market work and household production—thereby maximizing household utility. This model, however, was increasingly challenged as dual-earner households became common and women gained autonomy to leave economically unfulfilling marriages. Rising divorce rates in the late twentieth century reflected these broader shifts.
Marriage in the Twenty-First Century
In the contemporary era, marriage remains deeply tied to economic outcomes even as it has become more strongly associated with personal fulfillment and emotional commitment. Dual-income households dominate in industrialized nations, and the pooling of financial resources continues to provide economic advantages.
However, scholars have highlighted the rise of assortative mating, in which individuals increasingly marry partners of similar education and income levels (Schwartz & Mare, 2005). This trend has reinforced household income inequality, as high-income couples consolidate resources while low-income individuals are less likely to marry. Furthermore, marriage is being delayed as individuals prioritize education and career development, particularly in urban and industrial societies. While cohabitation and single-parent households have gained prevalence, marriage continues to play a critical role in wealth accumulation, child development, and intergenerational economic transfers (Cherlin, 2009).
Conclusion
The history of marriage demonstrates its dual role as both a personal and economic institution. From ancient practices of bride price and dowry to the land-based alliances of the feudal era, the breadwinner–homemaker division of the industrial age, and the dual-income partnerships of the twenty-first century, marriage has consistently reflected broader economic conditions. Scholarly works—from Jack Goody’s studies of kinship, to Gary Becker’s economic models, to contemporary analyses of inequality and assortative mating—underscore the complexity of marriage as an evolving economic phenomenon. While love and personal choice have become central to the cultural meaning of marriage, its economic implications remain profound, shaping patterns of labor, wealth distribution, and social mobility.
References
Becker, G. (1981). A Treatise on the Family. Harvard University Press.
Cherlin, A. (2009). The Marriage-Go-Round: The State of Marriage and the Family in America Today. Alfred A. Knopf.
Coontz, S. (2005). Marriage, a History: How Love Conquered Marriage. Viking.
Folbre, N. (1986). “Hearts and Spades: Paradigms of Household Economics.” World Development, 14(2), 245–255.
Goody, J. (1973). Bridewealth and Dowry. Cambridge University Press.
Schwartz, C. R., & Mare, R. D. (2005). “Trends in Educational Assortative Marriage from 1940 to 2003.” Demography, 42(4), 621–646.
Shanley, M. L. (1989). Feminism, Marriage, and the Law in Victorian England, 1850–1895. Princeton University Press.
Staves, S. (1990). Married Women’s Separate Property in England, 1660–1833. Harvard University Press.
Stone, L. (1977). The Family, Sex and Marriage in England, 1500–1800. Harper & Row.