The Royal Wedding

Yesterday history was made as wedding bells rang out in England. Welcome to the family Kate! I wonder how it feels to one day wake up and not be a "commoner" anymore. 

The Royal Wedding hype has yet to die down. Many say that Americans are more fascinated by the Royal Family's festivities than the English. So why did billions tune in to watch Will and Kate tie the knot?

I can't speak for the majority, but I can speak for myself in saying that I tuned in, not only to watch history in the making, but to see "the glamour of it all." The dress, the venue, the guests, the paparazzi/media, it was nothing less than a Royal Red Carpet Event.
In awe of this real-life fairytale, I began to wonder, "How much did this really cost?"All of the estimates are accounting for the usual wedding expenses: the venue, the people that made it happen, the dress, the food, etc. Thinking like an economist, I began to explore the underlying costs.

Some underlying costs and potential profit-makers that I came up with include: 

1. This is coming out of the tax payers' wallets...could the money have been used elsewhere to benefit the community as a whole? (Are taxpayers paying for the honeymoon as well?) 
2. Many were giving a paid vacation day to celebrate
3. How many people were employed/profited from the wedding? (i.e. security/police, media broadcasters/crew, hotels, restaurants, Google, etc.)
4. Something I like to call "The Sarah Palin Effect" (remember when every middle-aged woman just "had to have" Palin's glasses and hairstyle) ... well, I think everyone is going to be dying to get "The Kate Middleton Look" - designer clothes from Alexander McQueen, a look-a-like ring, and the hairstyle to match! 

All in all, I was not shocked by the extravagance. Lavish luxury for the Royals. Nothing but the best.

Wishing you many happy and prosperous years! 

"In a time when nothing is more certain than change, the commitment of two people to one another has become difficult and rare.  Yet, by its scarcity, the beauty and value of this exchange have only been enhanced."  -Robert Sexton