In August 2009, I wrote briefly about the corny sounding “mancession” and the role of women in fixing the economy. I revisit this topic based on two recent articles from the Atlantic Monthly and The Economist.
When The Economist asserts that the “economic empowerment of women across the rich world is one of the most remarkable revolutions of the past 50 years” they aren’t kidding. This article highlights the social aspect of this dramatic change: “…millions of people who were once dependent on men have taken control of their economic fates” and cites the remarkable nature of this change that has produced little friction “change that affects the most intimate aspects of people’s identities has been widely welcomed by men as well as women.”
Reasons for the change include politics via feminism and governments passing equal rights acts, the decrease in the “rich nation’s” demand for physically demanding labor (much has been outsourced to emerging economies), decline in manufacturing jobs traditionally held by men, and the expansion of higher education for women (women earn nearly 60% of university degrees in America and Europe) just to name a few.
Unfortunately, both articles touch on the pay gap inequality. “The average full time female worker in Britain or the U.S. earns 80 percent as much as her male equivalents.” Great articles if you have the time to read but make no mistake, women are changing the workforce of the future. Now, Tedesco, go get me a coffee!