What Are You Maximizing?

Stevenson and wolfers were paying their nanny 50 thousand dollars a year. Betsy was working in the government at the time, which meant shou didn't have a lot of time. For many people, grandma or grandpa are a source of what looks like free child care. Their time has an enormous opportunity cost that just never priced. You pay people well because you want to treat them well and because you value them.