NEW YORK (MainStreet)Millennials have proudly laid claim to creating a "hookup culture," an era of casual sex with no strings attached. But is there a financial motivation behind this "social change"?
Michelle Juergen, writing in a piece for Policymic called "The Economics of Hookup Culture," appears to be saying so. For Gen Y, it seems to go along the lines of: the economy is bad, we can't get a job, we can't afford to live anywhere else but in our parent's basement -- so we're hooking up instead of settling down.
"Instead of passing judgment on Millennials, we should be looking at the many external factors responsible for this shift," Juergen writes. "Millennials' formerly bright futures took a huge blow, thanks to the recession. Now we bunk with Mom and Dad, take paid internships because we can't get entry-level jobs and eat a lot of Hot Pockets. So, yes, we're going to take each other out for a very cheap drink, and not a fancy dinner. We're going to make out at parties in front of our friends, because we can't bring someone home to our parents' house."
Dr. Marina Adshade, author of Dollars and Sex (Chronicle, 2013) and professor at the Vancouver School of Economics, believes the fundamental financial theory that most applies is the law of supply and demand, especially on the college campus.
"Because there are many women competing for more scarce men, the preferences of men are dominating," Adshade told MainStreet. "And the preference of men are to have more short-term relationships. There are so few men, that women really compete for their attention. That makes it easier for them to send a text message out at 10 o'clock at night saying, 'Hey, why don't you come over?' and women are more willing to do that."