When discussing that economics is everywhere, one thought that came to my mind is adoption, and specifically fostering to adopt. Fostering to adopt aids children while also saving the public money. Everyone agrees that adopting helps children, but an article I read goes a step further and identifies monetary benefit for society. "At a time when our nation is experiencing a multitude of economic hardships, Federal, State and local agencies could potentially lower expenditures while maintaining essential child welfare services if more children and youth from the foster care system were adopted" (the economic benefits, n.d.). The public pays about $9 billion a year for foster care. 15% of all children in foster care will be adopted. Thus, if more children were adopted, the public would pay less each year to take care of these kids.
References
The Economic Benefits of Foster Care Adoption. Children's Bureau Express. (n.d.). Retrieved October 8, 2021, from https://cbexpress.acf.hhs.gov/index.cfm?event=website.viewArticles&issueid=130§ionid=2&articleid=3304
Natalee, great post this week! I definitely enjoyed your unique perspective on fostering to adopt, I believe this would be a great solution to cut down on expenses and also provide children with a good home, this requires multiple foster families to be consistent in their fostering and willing to adopt children for good. To save money in the future I believe the foster system would benefit greatly from more mandated training to focus on care of the child.
Your discussion about adoption from an economic standpoint is quite interesting. I think there are many people out there that are simply do not consider of the expense of the fostering system. I did not. Based on your discussion, billions are being paid toward the foster care system, yet only 15% of children are being adopted. I believe the cost of adoption plays a role in the number of children being adopted. Another factor may be the declining population growth in conjunction with what seems as a shift from a family oriented lifestyle to more of working lifestyle. Rogers (2021) shares, "Slower population growth has been a trend in the United States for several years, the result of decreasing fertility and net international migration, combined with increasing mortality due to an aging population." (para. 5) Declining population growth may mean that there are less individuals that are willing and able to adopt children. Yes, for those struggling with infertility, adoption would be ideal, but those couples may still not be in a place to adopt. Aging individuals, especially those becoming increasingly less mobile with age, would likely be less inclined to adopt. In addition to that, it seems our culture has shifted from being more family oriented to being more working oriented. While the idea of having a family is not thrown in the wind, it seems to be less of a priority now. Thank you for sharing your insight on adoption from an economic standpoint.
References
Rogers, L. (2021). COVID-19, Declining Birth Rates and International Migration Resulted in Historically Small Population Gains. Census.gov. Retrieved 2 October 2022, from https://www.census.gov/library/stories/2021/12/us-population-grew-in-2021-slowest-rate-since-founding-of-the-nation.html#:~:text=Slower%20population%20growth%20has%20been%20a%20trend%20in,with%20increasing%20mortality%20due%20to%20an%20aging%20population.
It is a very interesting notion, and certainly one that needs to be addressed concerning the ever rising population. In the U.S., according to Child Welfare Information Gateway it costs around $5000 to $40000 to adopt a single child. So perhaps it is an issue then of simply the initial costs it takes. If someone has too look at at adopting a child the same as buying a car something is probably wrong I would argue. I understand the need to support other children and the programs that keep them and that you cant simply let anyone adopt a child, but It is harder for people to even access the opportunity with such hugh upfront costs and legal fees. Not including just taking care of the child initially.
What is the cost of adoption from foster care? (n.d.). Www.adoptuskids.org. https://www.adoptuskids.org/adoption-and-foster-care/overview/what-does-it-cost#:~:text=According%20to%20Child%20Welfare%20Information
I never realized that the rate of fostering to adopt was so low. It is fascinating how much it affects government spending.
I agree Natalee, fostering to adopt would tremendously cut down the expenses the government pays to keep children in foster care. However, I believe another big problem in the foster system is the inability to retain foster families. According to Billy flynn in his article " The " real" Problem with Foster Care" over 40% of foster families do not return after the first year. The stress and trauma of this process without helpful training is draining to the point that many families do not wish to continue in the foster system and therefore do not have the chance to foster to adopt, which leaves the government paying $9 billion a year. I believe that with more money put into training and helping foster families, expenses can be cut dramatically down.