Are you likely to have more kids if you are rich or poor? Or to put this in econo-jargon: Are kids normal or inferior goods? (Reminder: When you get rich you buy more of a “normal good,” and less of an “inferior good.” And yes, the language of economics can be a bit cold.)…
Whether you cut the data across countries, through time, or across people at a point in time, the same fact arises: The richer you get, the fewer kids you have.
Yep, kids aren’t normal.
–The Rich vs Poor Debate: Are Kids Normal or Inferior Goods?, Freakonomics.com, by Justin Wolfers