According to the National Retail Federation, the average American will spend about $103 on Valentine's Day this year. That's what the economy thinks of love, but how does an economist perceive it?
K-State economist Vincent Amanor-Boadu attempts to make sense of romantic love by framing it as an economic activity in his essay, Love through an Economist’s Lens.
"Because it demands reciprocity to survive, unrequited romantic love is destined to wilt and die just as a plant deprived of water does," Amanor-Boadu writes. "But from an economic perspective, this death is efficient because it allows the lover to reinvest his scarce resources where he has a better chance of getting a return." read more