Is Divorce Good For The Economy?
Kim Kardashian is under the media limelight again, only this time it has nothing to do with her pedantic reality shows or sex tapes but rather her divorce from former NBA jersey nets player Kris Humphries. Now before you decide that this is another one of them articles about celebrity martial issues nobody really cares about, this one managed to capture my attention because the chain of resulting events might actually impact the economy in an indirect way. Read on the see how.
For all those of you who are new to the this ‘Hot news’, Kim Kardashian was engaged to the basketball player way back in August this year, in and around the 20th . The wedding had received a great deal of media attention after Humphries apparently purchased a 20 carat diamond ring for his bride, at an estimated cost of $2.5 million.
However, in spite of all the ‘made for each other’ business going around, word eventually got out that the marriage was more of a business rather than a personal proposition, where she wanted to make use of the media attention to promote her brands.
So Kim Kardashian did what any other normal celebrity would do, by suing the heck out the publicist that spread the rumor and publicly filing for a divorce. The divorce battle commenced on December 1 and is still ensuing with both sides refusing to relent or bend over, however on the sidelines the economy is getting impacted in a very subtle way and I am leaving you all to decide whether the outcome was positive or negative-
- The Kardashian clan is well known for their business interests in fashion and retail and television, especially Kim who even has her own lucrative online shoe retailing website. If these scandalous rumors affect the Kardashian brand in an unrecoverable way, it will cause huge tremors in the media and television industry, where the channels hosting their show may tend to lose millions.
- While the bill for the opulent wedding did manage to gross over $10 million, the divorce may end up costing much more for both the parties. Secondly, this may in turn pump up the real estate market as most celebrity divorces end up with either one or both the parties purchasing some posh mansion in an upscale community, thus causing the house and land prices of that community to go up, due to the reputation of the parties in question. While this divorce still needs to reach a stalemate, the above scenario will happen sooner or later.
- Generally, marriage and divorce is good for certain industries. Lawyers, accountants, cities, car rentals, hotels. They all love marriages/divorces. Let’s look at divorce in general. What was once one home, one car, one t.v. now because two homes and two cars etc etc. When people go from 1 unit to 2 individuals a lot of industries are positively effected.
However, since correlation does not result in causation, I am not implying that celebrities should get divorced in order to keep the economy running, because all these scenarios are merely circumstantial. The point being, the economy of today is so complex and enigmatic, that it is often affected by ways in which you least expect, so beware.
Besides, by all accounts the worst part about getting a divorce, other than being separated from your ‘loved’ ones, is the fact that they do not come cheap, especially for a man. I am not being biased or sexist but it is a proven fact that women have a higher chance of getting alimony than their male counterparts.
It’s fairly simple actually. Alimony has nothing to do with sex but mainly with income of the parties involved. Traditionally, the man was the sole bread winner and thus had to pay spousal support. But either way, it is bad for both the parties. My point being, divorce is a decision that can be as mind boggling as marriage itself and there is a lot of brainstorming involved.
So what is your opinion of the Kim Kardashin and Kris Humphries marriage? Do you think their marriage and quick divorce was good for the economy?