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Saturday, May 7, 2011
Royal Wedding Economics: Is the royal family good for the British economy or a drain on it?
The wedding between dashing Prince William and darling Kate Middleton will be romantic. It will be royal. It will be oh-so-British. It will also be a consumerist orgy the likes of which we have not seen since Princess Diana dawdled down the aisle in 25 feet of fluffy taffeta. It has re-ignited a question that has bedeviled British aristocrats, socialists, and economists for generations. What is the economic value of the royal family? Or: What is a princess worth, anyway?
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