Forget the hype, Britain’s royal baby will only have a small economic impact

Having a baby is always an irrational decision. The cost-benefit analysis never makes sense. But when it comes to Britain’s royal baby, the economic scorecard has been front and center and companies are trying to cash in.

It’s been estimated the new baby boy will bring a $400 million boost to the British economy through increased tourism, sales of souvenirs, celebratory spending, and a lift to public confidence. Those are the benefits, but what about the costs?

The BBC’s Andrew Walker joins Marketplace Morning Report host David Brancaccio to discuss.