Folbre on Gender and Economics

Senior Scholar Nancy Folbre was interviewed by Woman’s Work on the wage gap and women’s underrepresentation in economics:

Folbre: [M]arket logic doesn’t apply to care of dependents, a more traditionally feminine obligation. Children, the sick, and the frail elderly don’t fit the preconditions for consumer sovereignty in market exchange. Most care of dependents takes place outside the market. Women generally take more responsibility for this care than men do. …

The whole concept of concern for other people or interdependent utilities or obligations for other people, these are largely absent from the market paradigm. The textbook assumption is that participants in the market don’t care about other people, they have independent preferences. They are basically making decisions based on prices and income. It’s a very narrow, stripped down characterization. In some instances, it may be accurate. But a lot of the work that women, in particular, do doesn’t involve impersonal transactions.

We live in a world shaped by a moral division of labor that is highly gendered.

Read the rest here.