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Woman Who Holds Economics in Her Hand: Reframing Power, Progress, and Prosperity
Introduction:
The image of a woman holding the world’s economy in her hand is more than a metaphor; it's a powerful symbol of untapped potential and transformative change. This blog post delves into the multifaceted realities of women's participation in economics, exploring their contributions, challenges, and the profound impact they have on global prosperity. We’ll examine historical context, current realities, and future possibilities, dismantling outdated stereotypes and highlighting the vital role women play – and must play – in shaping a more equitable and economically vibrant future. We'll explore the significance of the phrase "woman who holds economics in her hand" as a representation of both existing power and the potential for even greater influence.
H2: The Historical Landscape: A Legacy of Exclusion and Emerging Power
For centuries, women were largely excluded from formal economic participation. Societal norms, legal restrictions, and deeply ingrained biases limited their access to education, employment, and financial resources. This historical marginalization significantly hampered economic growth globally. However, the narrative is shifting. The 20th and 21st centuries have witnessed a gradual, though uneven, rise in women's economic participation, fueled by social movements, legal reforms, and a growing recognition of their crucial role in development.
H3: Breaking Barriers: Access to Education and Employment
Increased access to education is a critical factor in empowering women economically. Educated women are more likely to participate in the workforce, earn higher wages, and contribute to innovation. However, gender disparities in education persist in many parts of the world, hindering progress. Similarly, access to equal employment opportunities remains a significant challenge. Gender pay gaps, occupational segregation, and a lack of workplace support for mothers all impede women's economic advancement.
H2: The Modern Woman and Economic Influence: More Than Just Participation
The phrase "woman who holds economics in her hand" transcends simple participation; it speaks to influence, leadership, and impact. Women are not merely filling jobs; they are creating businesses, driving innovation, and shaping economic policy.
H3: Entrepreneurship and Innovation: Driving Economic Growth
Women entrepreneurs are increasingly recognized as key drivers of economic growth. Their businesses often focus on social impact, sustainability, and innovation, creating jobs and contributing to economic diversification. However, they face unique challenges in accessing funding, mentorship, and business networks.
H3: Leadership Roles and Policy Making: Shaping the Future
The presence of women in leadership roles within corporations and governments is crucial for creating inclusive economic policies. Their perspectives and experiences are essential for designing solutions that address the specific challenges women face and for fostering economic growth that benefits all members of society. Their influence in policy-making directly impacts resource allocation, infrastructure development, and social welfare programs, ultimately shaping the economic landscape.
H2: Challenges and Opportunities: Addressing Inequality for Sustainable Progress
Despite progress, significant challenges remain. The gender pay gap persists, access to financial services remains limited for many women, and unconscious biases continue to hinder their advancement. Addressing these challenges requires a multi-pronged approach that includes:
H3: Policy Interventions: Addressing Systemic Barriers
Governments have a crucial role to play in creating an enabling environment for women's economic empowerment. This includes enacting policies that promote gender equality in the workplace, ensuring equal pay, expanding access to childcare, and providing financial support for women-owned businesses.
H3: Breaking Down Societal Norms: Changing Perceptions
Addressing deeply ingrained societal norms and biases is crucial for long-term progress. Challenging stereotypes, promoting positive role models, and encouraging men to become allies in the pursuit of gender equality are all essential components of this effort.
H2: The Future of Economics: A Vision of Shared Prosperity
The future of economics hinges on the full and equal participation of women. When women are empowered economically, they contribute significantly to household incomes, improving living standards and reducing poverty. They also drive innovation, creating new industries and economic opportunities. A future where the "woman who holds economics in her hand" is a ubiquitous reality is not just a vision of equality, but a pathway to shared prosperity and sustainable development for all.
Conclusion:
The image of a woman holding economics in her hand is a powerful symbol of potential and progress. While significant challenges remain, the growing recognition of women's crucial role in economic development, coupled with ongoing efforts to address systemic inequalities, offers hope for a future where women are not just participants but key architects of a more equitable and prosperous world. By investing in women's education, entrepreneurship, and leadership, we unlock immense potential for economic growth and create a future where shared prosperity becomes a reality.
FAQs:
1. What are the biggest obstacles preventing women from fully participating in the economy? The biggest obstacles include gender pay gaps, lack of access to childcare, societal biases, limited access to capital and networks, and unequal opportunities in education and employment.
2. How can governments effectively support women's economic empowerment? Governments can support women through policies promoting gender equality in the workplace, providing affordable childcare, offering financial incentives for women-owned businesses, and investing in women's education and skill development.
3. What role can businesses play in promoting gender equality in the workplace? Businesses can actively promote gender equality through fair hiring practices, equal pay policies, flexible work arrangements, mentorship programs for women, and fostering a culture of inclusion and respect.
4. What is the impact of women's economic empowerment on poverty reduction? When women have economic opportunities, they are more likely to invest in their families’ health and education, leading to improved living standards and a reduction in poverty rates.
5. How can individuals contribute to promoting women's economic empowerment? Individuals can support women's economic empowerment by supporting women-owned businesses, advocating for gender equality policies, mentoring women in their fields, and challenging gender stereotypes in their daily lives.
| woman who holds economics in her hand: Who Cooked Adam Smith’s Dinner? Katrine Marçal, 2015-04-22 A feminist critique of new-liberalism. How do you get your dinner? That is the basic question of economics. It might seem easy, but it is actually very complicated. When economist and philosopher Adam Smith proclaimed that all our actions were motivated by self-interest, and that the world turns because of financial gain, he laid the foundations for ‘economic man’. Selfish and cynical, ‘economic man’ has dominated our thinking ever since – he is the ugly rational heart of modern day capitalism. But, every night, Adam Smith's mother served him his dinner, not out of self-interest, but out of love. Even today, the unpaid work of mothering, caring, cleaning, and cooking is not part of our economic models. All over the world, there are economists who believe that if women are paid less, it’s because their labour is worth less. In this engaging, popular look at the mess we're in, Katrine Marçal charts the myth of economic man, from its origins at Adam Smith's dinner table, its adaptation by the Chicago School, and, finally its disastrous role in the 2008 Global Financial Crisis — and invites us to kick out economic man once and for all. PRAISE FOR KATRINE MARÇAL ‘The word economy comes from the Greek oikos, meaning home, and yet until recently, economists failed to factor home economics — women’s unpaid work — into their equations … As Katrine Marçal so wittily shows, this masculine construction is a myth that ignores the irrational, emotional and often altruistic reality of our lives … This wonderfully accessible and entertaining book empowers readers to question the economic ‘‘truths’’ that have come to dominate our lives.’ The Sydney Morning Herald |
| woman who holds economics in her hand: Mission Economy Mariana Mazzucato, 2021-01-28 'One of the most influential economists in the world' Wired Even before the Covid-19 pandemic in 2020, capitalism was stuck. It had no answers to a host of problems, including disease, inequality, the digital divide and, perhaps most blatantly, the environmental crisis. Taking her inspiration from the 'moonshot' programmes which successfully co-ordinated public and private sectors on a massive scale, Mariana Mazzucato calls for the same level of boldness and experimentation to be applied to the biggest problems of our time. We must, she argues, rethink the capacities and role of government within the economy and society, and above all recover a sense of public purpose. Mission Economy, whose ideas are already being adopted around the world, offers a way out of our impasse to a more optimistic future. |
| woman who holds economics in her hand: Counting for Nothing Marilyn Waring, 1999-01-01 The calculation of national wealth is full of bias, particularly gender bias against women. Waring's classic analysis of women's place in the world economy is brought up to date in this reprinted edition by a sizable new introduction by the author. |
| woman who holds economics in her hand: The Sex Factor Victoria Bateman, 2019-07-01 Why did the West become so rich? Why is inequality rising? How ‘free’ should markets be? And what does sex have to do with it? In this passionate and skilfully argued book, leading feminist Victoria Bateman shows how we can only understand the burning economic issues of our time if we put sex and gender – ‘the sex factor’ – at the heart of the picture. Spanning the globe and drawing on thousands of years of history, Bateman tells a bold story about how the status and freedom of women are central to our prosperity. Genuine female empowerment requires us not only to recognize the liberating potential of markets and smart government policies but also to challenge the double-standard of many modern feminists when they celebrate the brain while denigrating the body. This iconoclastic book is a devastating exposé of what we have lost from ignoring ‘the sex factor’ and of how reversing this neglect can drive the smart economic policies we need today. |
| woman who holds economics in her hand: Women Want More Michael J. Silverstein, Kate Sayre, John Butman, 2009-09-08 In Women Want More, Michael Silverstein and Kate Sayre, two of the world’s leading authorities on the retail business, argue that women are the key to fixing the economy. Based on a groundbreaking study and offering tremendous insight into the purchasing habits and power of women, Women Want More doesn’t just offer a glimpse into consumer behavior; it reveals what consumer behavior says about human psychology and desire. |
| woman who holds economics in her hand: Rethinking Home Economics Sarah Stage, Virginia B. Vincenti, 2018-07-05 Until recently, historians tended to dismiss home economics as little more than a conspiracy to keep women in the kitchen. This landmark volume initiates collaboration among home economists, family and consumer science professionals, and women's historians. What knits the essays together is a willingness to revisit the subject of home economics with neither indictment nor apology. The volume includes significant new work that places home economics in the twentieth century within the context of the development of women's professions. Rethinking Home Economics documents the evolution of a profession from the home economics movement launched by Ellen Richards in the early twentieth century to the modern field renamed Family and Consumer Sciences in 1994. The essays in this volume show the range of activities pursued under the rubric of home economics, from dietetics and parenting, teaching and cooperative extension work, to test kitchen and product development. Exploration of the ways in which gender, race, and class influenced women's options in colleges and universities, hospitals, business, and industry, as well as government has provided a greater understanding of the obstacles women encountered and the strategies they used to gain legitimacy as the field developed. |
| woman who holds economics in her hand: Confessions of an Economic Hit Man John Perkins, 2004-11-09 Perkins, a former chief economist at a Boston strategic-consulting firm, confesses he was an economic hit man for 10 years, helping U.S. intelligence agencies and multinationals cajole and blackmail foreign leaders into serving U.S. foreign policy and awarding lucrative contracts to American business. |
| woman who holds economics in her hand: Doughnut Economics Kate Raworth, 2018-03-08 Economics is the mother tongue of public policy. It dominates our decision-making for the future, guides multi-billion-dollar investments, and shapes our responses to climate change, inequality, and other environmental and social challenges that define our times. Pity then, or more like disaster, that its fundamental ideas are centuries out of date yet are still taught in college courses worldwide and still used to address critical issues in government and business alike. That’s why it is time, says renegade economist Kate Raworth, to revise our economic thinking for the 21st century. In Doughnut Economics, she sets out seven key ways to fundamentally reframe our understanding of what economics is and does. Along the way, she points out how we can break our addiction to growth; redesign money, finance, and business to be in service to people; and create economies that are regenerative and distributive by design. Named after the now-iconic “doughnut” image that Raworth first drew to depict a sweet spot of human prosperity (an image that appealed to the Occupy Movement, the United Nations, eco-activists, and business leaders alike), Doughnut Economics offers a radically new compass for guiding global development, government policy, and corporate strategy, and sets new standards for what economic success looks like. Raworth handpicks the best emergent ideas—from ecological, behavioral, feminist, and institutional economics to complexity thinking and Earth-systems science—to address this question: How can we turn economies that need to grow, whether or not they make us thrive, into economies that make us thrive, whether or not they grow? Simple, playful, and eloquent, Doughnut Economics offers game-changing analysis and inspiration for a new generation of economic thinkers. |
| woman who holds economics in her hand: Counting on Marilyn Waring Margunn Bjørnholt, Ailsa McKay, 2014-03-01 This edited volume maps new advances in theories and practices in feminist economics and the valuation of women, care and nature since Marilyn Waring’s groundbreaking critique of the system of national accounts, If Women Counted (1988). It features theoretical, practical and policy oriented contributions, empirical studies, and new conceptualizations, theorizations and problematizations of defining and accounting for the value of nature and unpaid household work, eco-feminism, national and international policy processes, gender budgeting, unpaid care and HIV/AIDS policy, activism and artwork, and mirrors the wide-ranging impact and resonance of Waring’s work as well as the current frontiers of feminist economics. |
| woman who holds economics in her hand: Political Economy for Beginners Millicent Garrett Fawcett, Dame Millicent Garrett Fawcett, 1870 |
| woman who holds economics in her hand: A History of Feminist and Gender Economics Giandomenica Becchio, 2019-10-30 This book offers a historical exploration of the genesis of feminist economics and gender economics, as well as their theoretical and methodological differences. Its narrative also serves to embed both within a broader cultural context. Although both feminist economics and gender neoclassical economics belong to the cultural process related to the central role of the political economy in promoting women’s emancipation and empowerment, they differ in many aspects. Feminist economics, mainly influenced by women’s studies and feminism, rejected neoclassical economics, while gender neoclassical economics, mainly influenced by home economics and the new home economics, adopted the neoclassical economics’ approach to gender issues. The book includes diverse case studies, which also highlight the continuity between the story of women’s emancipation and the more recent developments of feminist and gender studies. This volume will be of great interest to researchers and academia in the fields of feminist economics, gender studies, and the history of economic thought. |
| woman who holds economics in her hand: Women and Economics Illustrated Charlotte Perkins Gilman, 2020-02-07 Women and Economics - A Study of the Economic Relation Between Men and Women as a Factor in Social Evolution is a book written by Charlotte Perkins Gilman and published in 1898. It is considered by many to be her single greatest work, [1] and as with much of Gilman's writing, the book touched a few dominant themes: the transformation of marriage, the family, and the home, with her central argument: the economic independence and specialization of women as essential to the improvement of marriage, motherhood, domestic industry, and racial improvement.[2]The 1890s were a period of intense political debate and economic challenges, with the Women's Movement seeking the vote and other reforms. Women were entering the work force in swelling numbers, seeking new opportunities, and shaping new definitions of themselves.[3] It was near the end of this tumultuous decade that Gilman's very popular book emerged |
| woman who holds economics in her hand: The Great Escape Angus Deaton, 2024-05-21 A Nobel Prize–winning economist tells the remarkable story of how the world has grown healthier, wealthier, but also more unequal over the past two and half centuries The world is a better place than it used to be. People are healthier, wealthier, and live longer. Yet the escapes from destitution by so many has left gaping inequalities between people and nations. In The Great Escape, Nobel Prize–winning economist Angus Deaton—one of the foremost experts on economic development and on poverty—tells the remarkable story of how, beginning 250 years ago, some parts of the world experienced sustained progress, opening up gaps and setting the stage for today's disproportionately unequal world. Deaton takes an in-depth look at the historical and ongoing patterns behind the health and wealth of nations, and addresses what needs to be done to help those left behind. Deaton describes vast innovations and wrenching setbacks: the successes of antibiotics, pest control, vaccinations, and clean water on the one hand, and disastrous famines and the HIV/AIDS epidemic on the other. He examines the United States, a nation that has prospered but is today experiencing slower growth and increasing inequality. He also considers how economic growth in India and China has improved the lives of more than a billion people. Deaton argues that international aid has been ineffective and even harmful. He suggests alternative efforts—including reforming incentives to drug companies and lifting trade restrictions—that will allow the developing world to bring about its own Great Escape. Demonstrating how changes in health and living standards have transformed our lives, The Great Escape is a powerful guide to addressing the well-being of all nations. |
| woman who holds economics in her hand: The Secret History of Home Economics Danielle Dreilinger, 2022-05-10 An NPR Favorite History Book of 2021 The surprising, often fiercely feminist, always fascinating, yet barely known, history of home economics. The term “home economics” may conjure traumatic memories of lopsided hand-sewn pillows or sunken muffins. But common conception obscures the story of the revolutionary science of better living. The field exploded opportunities for women in the twentieth century by reducing domestic work and providing jobs as professors, engineers, chemists, and businesspeople. And it has something to teach us today. In the surprising, often fiercely feminist and always fascinating The Secret History of Home Economics, Danielle Dreilinger traces the field’s history from Black colleges to Eleanor Roosevelt to Okinawa, from a Betty Crocker brigade to DIY techies. These women—and they were mostly women—became chemists and marketers, studied nutrition, health, and exercise, tested parachutes, created astronaut food, and took bold steps in childhood development and education. Home economics followed the currents of American culture even as it shaped them. Dreilinger brings forward the racism within the movement along with the strides taken by women of color who were influential leaders and innovators. She also looks at the personal lives of home economics’ women, as they chose to be single, share lives with other women, or try for egalitarian marriages. This groundbreaking and engaging history restores a denigrated subject to its rightful importance, as it reminds us that everyone should learn how to cook a meal, balance their account, and fight for a better world. |
| woman who holds economics in her hand: The Great Economists Linda Yueh, 2018-03-15 What can the ideas of history's greatest economists tell us about the most important issues of our time? 'The best place to start to learn about the very greatest economists of all time' Professor Tyler Cowen, author of The Complacent Class and The Great Stagnation ___________________________ Since the days of Adam Smith, economists have grappled with a series of familiar problems -- but often their ideas are hard to digest, before we even try to apply them to today's issues. Linda Yueh is renowned for her combination of erudition, as an accomplished economist herself, and accessibility, as a leading writer and broadcaster in this field; and in The Great Economists she explains the key thoughts of history's greatest economists, how their lives and times affected their ideas, how our lives have been influenced by their work, and how they could help with the policy challenges that we face today. In the light of current economic problems, and in particular economic growth, Yueh explores the thoughts of economists from Adam Smith and David Ricardo through Joan Robinson and Milton Friedman to Douglass North and Robert Solow. Along the way she asks, for example: what do the ideas of Karl Marx tell us about the likely future for the Chinese economy? How does the work of John Maynard Keynes, who argued for government spending to create full employment, help us think about state investment? And with globalization in trouble, what can we learn about handling Brexit and Trumpism? In one accessible volume, this expert new voice provides an overarching guide to the biggest questions of our time. The Great Economists includes: Adam Smith David Ricardo Karl Marx Alfred Marshall Irving Fisher John Maynard Keynes Joseph Schumpeter Friedrich Hayek Joan Robinson Milton Friedman Douglass North Robert Solow ___________________________ 'Economics students, like others, can learn a lot from this book' - Professor Paul Collier, author of The Bottom Billion 'Not only a great way to learn in an easily readable manner about some of the greatest economic influences of the past, but also a good way to test your own a priori assumptions about some of the big challenges of our time' - Lord Jim O'Neill, former Chairman at Goldman Sachs Asset Management, former UK Treasury Minister, and author of The Growth Map 'An extremely engaging survey of the lifetimes and ideas of the great thinkers of economic history' - Professor Kenneth Rogoff, author of The Curse of Cash and co-author of This Time is Different 'This book is a very readable introduction to the lives and thinking of the greats' - Professor Raghuram Rajan, former Governor of the Reserve Bank of India, and author of I Do What I Do and Fault Lines 'Read it not only to learn about the world's great economists, but also to see how consequential thought innovations can be, and have been' - Mohamed el-Erian, Chief Economic Adviser at Allianz, former CEO of PIMCO |
| woman who holds economics in her hand: Good Economics for Hard Times Abhijit V. Banerjee, Esther Duflo, 2019-11-12 FROM THE WINNERS OF THE 2019 NOBEL PRIZE IN ECONOMICS 'Wonderfully refreshing . . . A must read' Thomas Piketty In this revolutionary book, prize-winning economists Abhijit V. Banerjee and Esther Duflo show how economics, when done right, can help us solve the thorniest social and political problems of our day. From immigration to inequality, slowing growth to accelerating climate change, we have the resources to address the challenges we face but we are so often blinded by ideology. Original, provocative and urgent, Good Economics for Hard Times offers the new thinking that we need. It builds on cutting-edge research in economics - and years of exploring the most effective solutions to alleviate extreme poverty - to make a persuasive case for an intelligent interventionism and a society built on compassion and respect. A much-needed antidote to polarized discourse, this book shines a light to help us appreciate and understand our precariously balanced world. |
| woman who holds economics in her hand: Career and Family Claudia Goldin, 2023-05-09 In this book, the author builds on decades of complex research to examine the gender pay gap and the unequal distribution of labor between couples in the home. The author argues that although public and private discourse has brought these concerns to light, the actions taken - such as a single company slapped on the wrist or a few progressive leaders going on paternity leave - are the economic equivalent of tossing a band-aid to someone with cancer. These solutions, the author writes, treat the symptoms and not the disease of gender inequality in the workplace and economy. Here, the author points to data that reveals how the pay gap widens further down the line in women's careers, about 10 to 15 years out, as opposed to those beginning careers after college. She examines five distinct groups of women over the course of the twentieth century: cohorts of women who differ in terms of career, job, marriage, and children, in approximated years of graduation - 1900s, 1920s, 1950s, 1970s, and 1990s - based on various demographic, labor force, and occupational outcomes. The book argues that our entire economy is trapped in an old way of doing business; work structures have not adapted as more women enter the workforce. Gender equality in pay and equity in home and childcare labor are flip sides of the same issue, and the author frames both in the context of a serious empirical exploration that has not yet been put in a long-run historical context. This book offers a deep look into census data, rich information about individual college graduates over their lifetimes, and various records and sources of material to offer a new model to restructure the home and school systems that contribute to the gender pay gap and the quest for both family and career. -- |
| woman who holds economics in her hand: The Oxford Handbook of Women and the Economy Susan L. Averett, Laura M. Argys, Saul D. Hoffman, 2018-05-15 The transformation of women's lives over the past century is among the most significant and far-reaching of social and economic phenomena, affecting not only women but also their partners, children, and indeed nearly every person on the planet. In developed and developing countries alike, women are acquiring more education, marrying later, having fewer children, and spending a far greater amount of their adult lives in the labor force. Yet, because women remain the primary caregivers of children, issues such as work-life balance and the glass ceiling have given rise to critical policy discussions in the developed world. In developing countries, many women lack access to reproductive technology and are often relegated to jobs in the informal sector, where pay is variable and job security is weak. Considerable occupational segregation and stubborn gender pay gaps persist around the world. The Oxford Handbook of Women and the Economy is the first comprehensive collection of scholarly essays to address these issues using the powerful framework of economics. Each chapter, written by an acknowledged expert or team of experts, reviews the key trends, surveys the relevant economic theory, and summarizes and critiques the empirical research literature. By providing a clear-eyed view of what we know, what we do not know, and what the critical unanswered questions are, this Handbook provides an invaluable and wide-ranging examination of the many changes that have occurred in women's economic lives. |
| woman who holds economics in her hand: Economics in Two Lessons John Quiggin, 2021-04-13 Since 1946, Henry Hazlitt's bestselling Economics in One Lesson has popularized the belief that economics can be boiled down to one simple lesson: market prices represent the true cost of everything. But one-lesson economics tells only half the story. It can explain why markets often work so well, but it can't explain why they often fail so badly--or what we should do when they stumble. Quiggin teaches both lessons, offering an introduction to the key ideas behind the successes--and failures--of free markets. He explains why market prices often fail to reflect the full cost of our choices to society as a whole. Two-lesson economics means giving up the dogmatism of laissez-faire as well as the reflexive assumption that any economic problem can be solved by government action, since the right answer often involves a mixture of market forces and government policy. But the payoff is huge: understanding how markets actually work--and what to do when they don't. This book unlocks the essential issues at the heart of any economic question. --From publisher description. |
| woman who holds economics in her hand: Distinguished Women Economists Julianne Cicarelli, 2003-10-30 Women are vital members of the economics profession, yet they have traditionally received scant recognition for their work. This volume provides information on 51 remarkable women in the profession. They come from all areas of economics-academia, the business world, public policy-and include those who are currently active as well as 19th-century pioneers in the field. Entries cover biographical information, as well as the subjects' work, providing a unique guide to the many and varied contributions these women have made to economics. Joan Robinson was one of the most significant economists of the 20th century. Juanita Morris Kreps was Secretary of Commerce under Jimmy Carter. And forecasting guru Abbey Joseph Cohen appears regularly on PBS, CNN, and CNBC. Women are vital members of the economics profession, yet they have traditionally received scant recognition for their work. This volume provides information on 51 remarkable women in the profession. They come from all areas of economics-academia, the business world, public policy-and include those who are currently active as well as 19th-century pioneers in the field. Entries cover biographical information, as well as the subjects' work, providing a unique guide to the many and varied contributions these women have made to economics. Seeking to provide balanced coverage, this book covers accomplished and emerging economists, living and deceased individuals, and women from all philosophical perspectives and economic areas. Some have worked in several areas. Kathleen Bell Cooper, for instance, was Chief Economist at Exxon Corporation and is now Under Secretary of Commerce for Economic Affairs, while Marina Whitman, now with the University of Michigan Business School, was a senior executive with General Motors and the first woman appointed to the President's Council of Economic Advisors. Others have spent their career in academia. All have been prolific writers, as their entries document, and all made their mark on economics. This book is a testament to their achievements. |
| woman who holds economics in her hand: Development as Freedom Amartya Sen, 2001-01-18 Amartya Sen is the most respected and well-known economist of his time. This book is a synthesis of his thought, viewing economic development as a means to extending freedoms rather than an end in itself. By widening his outlook to include poverty, tyranny, lack of opportunity, individual rights, and political structures, Professor Sen gives a stimulating and enlightening overview of the development process. His compassionate yet rigorous analysis will appeal to all those interested in the fate of the developing world, from general reader to specialist. |
| woman who holds economics in her hand: Capital in the Twenty-First Century Thomas Piketty, 2017-08-14 What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today. |
| woman who holds economics in her hand: Poor Economics Abhijit V. Banerjee, Esther Duflo, 2012-03-27 The winners of the Nobel Prize in Economics upend the most common assumptions about how economics works in this gripping and disruptive portrait of how poor people actually live. Why do the poor borrow to save? Why do they miss out on free life-saving immunizations, but pay for unnecessary drugs? In Poor Economics, Abhijit V. Banerjee and Esther Duflo, two award-winning MIT professors, answer these questions based on years of field research from around the world. Called marvelous, rewarding by the Wall Street Journal, the book offers a radical rethinking of the economics of poverty and an intimate view of life on 99 cents a day. Poor Economics shows that creating a world without poverty begins with understanding the daily decisions facing the poor. |
| woman who holds economics in her hand: The New Economics Steve Keen, 2021-11-11 In 1517, Martin Luther nailed his 95 theses to the wall of Wittenberg church. He argued that the Church’s internally consistent but absurd doctrines had pickled into a dogmatic structure of untruth. It was time for a Reformation. Half a millennium later, Steve Keen argues that economics needs its own Reformation. In Debunking Economics, he eviscerated an intellectual church – neoclassical economics – that systematically ignores its own empirical untruths and logical fallacies, and yet is still mysteriously worshipped by its scholarly high priests. In this book, he presents his Reformation: a New Economics, which tackles serious issues that today's economic priesthood ignores, such as money, energy and ecological sustainability. It gives us hope that we can save our economies from collapse and the planet from ecological catastrophe. Performing this task with his usual panache and wit, Steve Keen’s new book is unmissable to anyone who has noticed that the economics Emperor is naked and would like him to put on some clothes. |
| woman who holds economics in her hand: A Little History of Economics Niall Kishtainy, 2017-03-07 A lively, inviting account of the history of economics, told through events from ancient to modern times and the ideas of great thinkers in the field What causes poverty? Are economic crises inevitable under capitalism? Is government intervention in an economy a helpful approach or a disastrous idea? The answers to such basic economic questions matter to everyone, yet the unfamiliar jargon and math of economics can seem daunting. This clear, accessible, and even humorous book is ideal for young readers new to economics and for all readers who seek a better understanding of the full sweep of economic history and ideas. Economic historian Niall Kishtainy organizes short, chronological chapters that center on big ideas and events. He recounts the contributions of key thinkers including Adam Smith, David Ricardo, Karl Marx, John Maynard Keynes, and others, while examining topics ranging from the invention of money and the rise of agrarianism to the Great Depression, entrepreneurship, environmental destruction, inequality, and behavioral economics. The result is a uniquely enjoyable volume that succeeds in illuminating the economic ideas and forces that shape our world. |
| woman who holds economics in her hand: Cogs and Monsters Diane Coyle, 2021-10-12 How economics needs to change to keep pace with the twenty-first century and the digital economy Digital technology, big data, big tech, machine learning, and AI are revolutionizing both the tools of economics and the phenomena it seeks to measure, understand, and shape. In Cogs and Monsters, Diane Coyle explores the enormous problems—but also opportunities—facing economics today and examines what it must do to help policymakers solve the world’s crises, from pandemic recovery and inequality to slow growth and the climate emergency. Mainstream economics, Coyle says, still assumes people are “cogs”—self-interested, calculating, independent agents interacting in defined contexts. But the digital economy is much more characterized by “monsters”—untethered, snowballing, and socially influenced unknowns. What is worse, by treating people as cogs, economics is creating its own monsters, leaving itself without the tools to understand the new problems it faces. In response, Coyle asks whether economic individualism is still valid in the digital economy, whether we need to measure growth and progress in new ways, and whether economics can ever be objective, since it influences what it analyzes. Just as important, the discipline needs to correct its striking lack of diversity and inclusion if it is to be able to offer new solutions to new problems. Filled with original insights, Cogs and Monsters offers a road map for how economics can adapt to the rewiring of society, including by digital technologies, and realize its potential to play a hugely positive role in the twenty-first century. |
| woman who holds economics in her hand: A Monetary History of the United States, 1867-1960 Milton Friedman, Anna Jacobson Schwartz, 2008-09-02 “Magisterial. . . . The direct and indirect influence of the Monetary History would be difficult to overstate.”—Ben S. Bernanke, Nobel Prize–winning economist and former chair of the U.S. Federal Reserve From Nobel Prize–winning economist Milton Friedman and his celebrated colleague Anna Jacobson Schwartz, one of the most important economics books of the twentieth century—the landmark work that rewrote the story of the Great Depression and the understanding of monetary policy Milton Friedman and Anna Jacobson Schwartz’s A Monetary History of the United States, 1867–1960 is one of the most influential economics books of the twentieth century. A landmark achievement, it marshaled massive historical data and sharp analytics to argue that monetary policy—steady control of the money supply—matters profoundly in the management of the nation’s economy, especially in navigating serious economic fluctuations. One of the book’s most important chapters, “The Great Contraction, 1929–33” addressed the central economic event of the twentieth century, the Great Depression. Friedman and Schwartz argued that the Federal Reserve could have stemmed the severity of the Depression, but failed to exercise its role of managing the monetary system and countering banking panics. The book served as a clarion call to the monetarist school of thought by emphasizing the importance of the money supply in the functioning of the economy—an idea that has come to shape the actions of central banks worldwide. |
| woman who holds economics in her hand: The Economics of Industry Alfred Marshall, Mary Paley Marshall, 1888 |
| woman who holds economics in her hand: Identity Economics George A. Akerlof, Rachel E. Kranton, 2010-01-21 How identity influences the economic choices we make Identity Economics provides an important and compelling new way to understand human behavior, revealing how our identities—and not just economic incentives—influence our decisions. In 1995, economist Rachel Kranton wrote future Nobel Prize-winner George Akerlof a letter insisting that his most recent paper was wrong. Identity, she argued, was the missing element that would help to explain why people—facing the same economic circumstances—would make different choices. This was the beginning of a fourteen-year collaboration—and of Identity Economics. The authors explain how our conception of who we are and who we want to be may shape our economic lives more than any other factor, affecting how hard we work, and how we learn, spend, and save. Identity economics is a new way to understand people's decisions—at work, at school, and at home. With it, we can better appreciate why incentives like stock options work or don't; why some schools succeed and others don't; why some cities and towns don't invest in their futures—and much, much more. Identity Economics bridges a critical gap in the social sciences. It brings identity and norms to economics. People's notions of what is proper, and what is forbidden, and for whom, are fundamental to how hard they work, and how they learn, spend, and save. Thus people's identity—their conception of who they are, and of who they choose to be—may be the most important factor affecting their economic lives. And the limits placed by society on people's identity can also be crucial determinants of their economic well-being. |
| woman who holds economics in her hand: GDP Diane Coyle, 2015-09-22 How GDP came to rule our lives—and why it needs to change Why did the size of the U.S. economy increase by 3 percent on one day in mid-2013—or Ghana's balloon by 60 percent overnight in 2010? Why did the U.K. financial industry show its fastest expansion ever at the end of 2008—just as the world’s financial system went into meltdown? And why was Greece’s chief statistician charged with treason in 2013 for apparently doing nothing more than trying to accurately report the size of his country’s economy? The answers to all these questions lie in the way we define and measure national economies around the world: Gross Domestic Product. This entertaining and informative book tells the story of GDP, making sense of a statistic that appears constantly in the news, business, and politics, and that seems to rule our lives—but that hardly anyone actually understands. Diane Coyle traces the history of this artificial, abstract, complex, but exceedingly important statistic from its eighteenth- and nineteenth-century precursors through its invention in the 1940s and its postwar golden age, and then through the Great Crash up to today. The reader learns why this standard measure of the size of a country’s economy was invented, how it has changed over the decades, and what its strengths and weaknesses are. The book explains why even small changes in GDP can decide elections, influence major political decisions, and determine whether countries can keep borrowing or be thrown into recession. The book ends by making the case that GDP was a good measure for the twentieth century but is increasingly inappropriate for a twenty-first-century economy driven by innovation, services, and intangible goods. |
| woman who holds economics in her hand: Economics Rules Dani Rodrik, 2015-10-08 The economics profession has become a favourite punching bag in the aftermath of the global financial crisis. Economists are widely reviled and their influence derided by the general public. Yet their services have never been in greater demand. To unravel the paradox, we need to understand both the strengths and weaknesses of economics. Dani Rodrik argues that the multiplicity of theoretical frameworks - what economists call 'models' that exist side by side is economics' great strength. Economists are trained to hold diverse, possibly contradictory models of the world in their minds. This is what allows them, when they do their job right, to comprehend the world, make useful suggestions for improving it, and to advance their stock of knowledge over time. In short, it is what makes economics a 'science' a different kind of science from physics or some other natural sciences, but a science nonetheless. But syncretism is not a comfortable state of mind, and economists often jettison it for misplaced confidence and arrogance, especially when they confront questions of public policy. Economists are prone to fads and fashions, and behave too often as if their discipline is about the search for the model that works always and everywhere, rather than a portfolio of models. Their training lets them down when it comes to navigating among diverse models and figuring out which one applies where. Ideology and political preferences frequently substitute for analysis in choosing among models. So the book offers both a defence and critique of economics. Economists' way of thinking about social phenomena has great advantages. But the flexible, contextual nature of economics is also its Achilles' heel in the hands of clumsy practitioners. |
| woman who holds economics in her hand: Rethinking Capitalism Michael Jacobs, Mariana Mazzucato, 2016-07-21 Thought provoking and fresh - this book challenges how we think about economics.” Gillian Tett, Financial Times For further information about recent publicity events and media coverage for Rethinking Capitalism please visit http://marianamazzucato.com/rethinking-capitalism/ Western capitalism is in crisis. For decades investment has been falling, living standards have stagnated or declined, and inequality has risen dramatically. Economic policy has neither reformed the financial system nor restored stable growth. Climate change meanwhile poses increasing risks to future prosperity. In this book some of the world’s leading economists propose new ways of thinking about capitalism. In clear and compelling prose, each chapter shows how today’s deep economic problems reflect the inadequacies of orthodox economic theory and the failure of policies informed by it. The chapters examine a range of contemporary economic issues, including fiscal and monetary policy, financial markets and business behaviour, inequality and privatisation, and innovation and environmental change. The authors set out alternative economic approaches which better explain how capitalism works, why it often doesn’t, and how it can be made more innovative, inclusive and sustainable. Outlining a series of far-reaching policy reforms, Rethinking Capitalism offers a powerful challenge to mainstream economic debate, and new ideas to transform it. |
| woman who holds economics in her hand: Why Nations Fail Daron Acemoglu, James A. Robinson, 2012-03-08 Shortlisted for the Financial Times and Goldman Sachs Business Book of the Year Award 2012. Why are some nations more prosperous than others? Why Nations Fail sets out to answer this question, with a compelling and elegantly argued new theory: that it is not down to climate, geography or culture, but because of institutions. Drawing on an extraordinary range of contemporary and historical examples, from ancient Rome through the Tudors to modern-day China, leading academics Daron Acemoglu and James A. Robinson show that to invest and prosper, people need to know that if they work hard, they can make money and actually keep it - and this means sound institutions that allow virtuous circles of innovation, expansion and peace. Based on fifteen years of research, and answering the competing arguments of authors ranging from Max Weber to Jeffrey Sachs and Jared Diamond, Acemoglu and Robinson step boldly into the territory of Francis Fukuyama and Ian Morris. They blend economics, politics, history and current affairs to provide a new, powerful and persuasive way of understanding wealth and poverty. |
| woman who holds economics in her hand: Evolving Households Jeremy Greenwood, 2019-01-29 The transformative effect of technological change on households and culture, seen from a macroeconomic perspective through simple economic models. In Evolving Households, Jeremy Greenwood argues that technological progress has had as significant an effect on households as it had on industry. Taking a macroeconomic perspective, Greenwood develops simple economic models to study such phenomena as the rise in married female labor force participation, changes in fertility rates, the decline in marriage, and increased longevity. These trends represent a dramatic transformation in everyday life, and they were made possible by advancements in technology. Greenwood also addresses how technological progress can cause social change. Greenwood shows, for example, how electricity and labor-saving appliances freed women from full-time household drudgery and enabled them to enter the labor market. He explains that fertility dropped when higher wages increased the opportunity cost of having children; he attributes the post–World War II baby boom to a combination of labor-saving household technology and advances in obstetrics and pediatrics. Marriage rates declined when single households became more economically feasible; people could be more discriminating in their choice of a mate. Technological progress also affects social and cultural norms. Innovation in contraception ushered in a sexual revolution. Labor-saving technological progress at home, together with mechanization in industry that led to an increase in the value of brain relative to brawn for jobs, fostered the advancement of women's rights in the workplace. Finally, Greenwood attributes increased longevity to advances in medical technology and rising living standards, and he examines healthcare spending, the development of new drugs, and the growing portion of life now spent in retirement. |
| woman who holds economics in her hand: PostCapitalism Paul Mason, 2015-07-30 From Paul Mason, the award-winning Channel 4 presenter, Postcapitalism is a guide to our era of seismic economic change, and how we can build a more equal society. Over the past two centuries or so, capitalism has undergone continual change - economic cycles that lurch from boom to bust - and has always emerged transformed and strengthened. Surveying this turbulent history, Paul Mason wonders whether today we are on the brink of a change so big, so profound, that this time capitalism itself, the immensely complex system by which entire societies function, has reached its limits and is changing into something wholly new. At the heart of this change is information technology: a revolution that, as Mason shows, has the potential to reshape utterly our familiar notions of work, production and value; and to destroy an economy based on markets and private ownership - in fact, he contends, it is already doing so. Almost unnoticed, in the niches and hollows of the market system, whole swathes of economic life are changing.. Goods and services that no longer respond to the dictates of neoliberalism are appearing, from parallel currencies and time banks, to cooperatives and self-managed online spaces. Vast numbers of people are changing their behaviour, discovering new forms of ownership, lending and doing business that are distinct from, and contrary to, the current system of state-backed corporate capitalism. In this groundbreaking book Mason shows how, from the ashes of the recent financial crisis, we have the chance to create a more socially just and sustainable global economy. Moving beyond capitalism, he shows, is no longer a utopian dream. This is the first time in human history in which, equipped with an understanding of what is happening around us, we can predict and shape, rather than simply react to, seismic change. |
| woman who holds economics in her hand: The Economic Consequences of the Peace John Maynard Keynes, 2022-05-09 The Economic Consequences of the Peace - John Maynard Keynes - The Economic Consequences of the Peace (1919) is a book written and published by the British economist John Maynard Keynes. After the First World War, Keynes attended the Paris Peace Conference of 1919 as a delegate of the British Treasury. In his book, he argued for a much more generous peace, not out of a desire for justice or fairness – these are aspects of the peace that Keynes does not deal with – but for the sake of the economic well-being of all of Europe, including the Allied Powers, which the Treaty of Versailles and its associated treaties would prevent. The book was a best-seller throughout the world and was critical in establishing a general opinion that the treaties were a Carthaginian peace designed to crush the defeated Central Powers, especially Germany. It helped to consolidate American public opinion against the treaties and against joining the League of Nations. The perception by much of the British public that Germany had been treated unfairly was, in turn, a crucial factor in later public support for the appeasement of Hitler. The success of the book established Keynes' reputation as a leading economist, especially on the left. When Keynes was a key player in establishing the Bretton Woods system in 1944, he remembered the lessons from Versailles as well as the Great Depression. The Marshall Plan, which was promulgated to rebuild Europe after the Second World War, was similar to the system proposed by Keynes in The Economic Consequences of the Peace. |
| woman who holds economics in her hand: What We Owe Each Other Minouche Shafik, 2022-08-23 From one of the leading policy experts of our time, an urgent rethinking of how we can better support each other to thrive Whether we realize it or not, all of us participate in the social contract every day through mutual obligations among our family, community, place of work, and fellow citizens. Caring for others, paying taxes, and benefiting from public services define the social contract that supports and binds us together as a society. Today, however, our social contract has been broken by changing gender roles, technology, new models of work, aging, and the perils of climate change. Minouche Shafik takes us through stages of life we all experience—raising children, getting educated, falling ill, working, growing old—and shows how a reordering of our societies is possible. Drawing on evidence and examples from around the world, she shows how every country can provide citizens with the basics to have a decent life and be able to contribute to society. But we owe each other more than this. A more generous and inclusive society would also share more risks collectively and ask everyone to contribute for as long as they can so that everyone can fulfill their potential. What We Owe Each Other identifies the key elements of a better social contract that recognizes our interdependencies, supports and invests more in each other, and expects more of individuals in return. Powerful, hopeful, and thought-provoking, What We Owe Each Other provides practical solutions to current challenges and demonstrates how we can build a better society—together. |
| woman who holds economics in her hand: The Age of Surveillance Capitalism Shoshana Zuboff, 2019-01-31 THE TOP 10 SUNDAY TIMES BESTSELLER A NEW YORK TIMES NOTABLE BOOK OF THE YEAR ONE OF BARACK OBAMA'S TOP BOOKS OF THE YEAR Shortlisted for The Orwell Prize 2020 Shortlisted for the FT Business Book of the Year Award 2019 'Easily the most important book to be published this century. I find it hard to take any young activist seriously who hasn't at least familarised themselves with Zuboff's central ideas.' - Zadie Smith, The Guardian The challenges to humanity posed by the digital future, the first detailed examination of the unprecedented form of power called surveillance capitalism, and the quest by powerful corporations to predict and control us. The heady optimism of the Internet's early days is gone. Technologies that were meant to liberate us have deepened inequality and stoked divisions. Tech companies gather our information online and sell it to the highest bidder, whether government or retailer. Profits now depend not only on predicting our behaviour but modifying it too. How will this fusion of capitalism and the digital shape our values and define our future? Shoshana Zuboff shows that we are at a crossroads. We still have the power to decide what kind of world we want to live in, and what we decide now will shape the rest of the century. Our choices: allow technology to enrich the few and impoverish the many, or harness it and distribute its benefits. The Age of Surveillance Capitalism is a deeply-reasoned examination of the threat of unprecedented power free from democratic oversight. As it explores this new capitalism's impact on society, politics, business, and technology, it exposes the struggles that will decide both the next chapter of capitalism and the meaning of information civilization. Most critically, it shows how we can protect ourselves and our communities and ensure we are the masters of the digital rather than its slaves. |
| woman who holds economics in her hand: End of History and the Last Man Francis Fukuyama, 2006-03-01 Ever since its first publication in 1992, the New York Times bestselling The End of History and the Last Man has provoked controversy and debate. Profoundly realistic and important...supremely timely and cogent...the first book to fully fathom the depth and range of the changes now sweeping through the world. —The Washington Post Book World Francis Fukuyama's prescient analysis of religious fundamentalism, politics, scientific progress, ethical codes, and war is as essential for a world fighting fundamentalist terrorists as it was for the end of the Cold War. Now updated with a new afterword, The End of History and the Last Man is a modern classic. |
| woman who holds economics in her hand: Public Purpose Mariana Mazzucato, 2021-10-26 How governments can spur growth and innovation to solve their greatest challenges—from green energy to national security to building resilient health systems. Known around the world for challenging mainstream economics, economist Mariana Mazzucato believes that “the public sector can and should be a co-creator of wealth that actively steers growth to meet its goals” (The Financial Times). In The Mission-Driven Economy, she calls on governments to create the economies we need today. Mazzucato’s challenge leads off a debate on the revival of Industrial policy—roughly defined as deliberate government action to re(shape) the economy. Industrial policy has fallen out of favor in recent decades as economists defer to free markets to produce innovation and growth. Yet today thinkers across the political spectrum have begun expressing new interest in industrial policy as a way to address the most serious problems of our times: from national security and climate change, to the market’s underfunding of public goods, to sluggish economic growth and labor market dysfunction. Together, contributors make a compelling case for industrial policy—what it is, and why we need it now. Addressing investment, innovation, supply chains, and growth, they offer a robust vision of a renewed industrial policy, and what it can offer the US economy in the face of climate change and a global pandemic. |
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Who Holds Economics in Her Hands? The Rising Power of Women in the Global Economy Introduction: For centuries, the narrative of economics has been predominantly male-centric. Images of power brokers and financial titans have often been exclusively masculine. However, a seismic shift is underway. This post dives deep into the evolving role of
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