The Law Of Household Economics

Cite this Article
Bill Sjostrom, The Law Of Household Economics, Truth on the Market (June 25, 2008),

Yesterday the W$J ran an article with the above-referenced title (see here). The gist of the article is that whenever a household is blessed with an unexpected windfall, it will be cursed by an equal, unexpected cost. When I read the column, I thought to myself that it’s funny because it’s true. Now I’m thinking it’s true but not so funny. Earlier this week I learned that I’m getting a bigger than expected raise for the coming year. Well, a few hours ago my wife called me from the orthodontist to tell me that my oldest son needs braces. After answering the question of “how much is that going to cost us” she remarked “there goes the raise” and she hadn’t even read the article. Damn the law of household economics.