Is it better for a couple with children for just one person to work full time and the other to take care of the kids, or for both to work parttime jobs. Which is more benefical for money and for the children?

In the long run I imagine one parent with a full-time job since part-time jobs generally have limited career advancement potential.

There is no "one fits all" type solution here. It depends on the financial needs of the family, the temperament of the children and the parents, the availability of quality child care, and their ages. You have to talk it over and make a list of all the pros and cons and choose a plan that you like. There is no "right" way to do this. Studies have shown that children in quality child care situations thrive just as well as those with stay at home parents.

My wife and I talked about this before we had kids. She wanted to be a stay-at-home Mom, and that was fine by me. The biggest advantage I can think of about this is that our kids are raised with OUR values, not the values of the babysitters and caretakers we would have to leave our children in the care of if we both worked. I would recommend this to any family. However, I realize it may NOT be practical for some, based on their financial needs or desires.