Many would put forward the notion that the quality and equality of the lives of women has been shaped by interaction between households in addition to the market. However, it can easily be argued that one of the most urgent global economic issue is gender inequality.
Women are underpaid in the workplace and often denied the opportunities to exceed and succeed like their male counter parts, this is easily magnified through figures like these “Over the last decade, 20% more is how much a male graduate could expect to earn on average, then a female graduate. in addition, an average woman working full-time from age 18 to 59 would lose £361,000 in gross earnings over her working life compared to an equivalent male” (BITC Diversity – Opportunity now). Shocking figures like these clearly illustrate that women are not benefiting from the opportunities provided by the capitalist market as much as men would. In my opinion it is evident that gender inequality and women’s under-representation in many ways is an urgent issue in global political economy, I could not stress enough the dis-proportionality and discrimination woman are inflicted to by the global market. Neo -liberalism often suggests that” economic development should enhance women’s status because it encourages societal integration, supports women’s investment in human capital, and creates employment opportunities” (Eastin and Prakash), oh the flaws in that statement it doesn’t take a critical feminist to grasp the fact that the capitalist market exploits women as well as forcing them into low paid jobs.
Stimulating women as agents of development is a tool that allows nations to prosper, as the old African proverb goes “if you educate a man you educate an individual , educate a woman and you educate a nation “ (Afriprov.org) Education girls breaks the cycle of poverty that many young girls and women face in many parts of the world, governments should use this cost effective approach to promote economic enhancement, stimulating women as agents of development is a tool that allows nations to prosper .None the less the international community has failed many of these young girls and women as they face nothing but a life of poverty and inequality , “an estimated 31 million girls of primary school age and 32 million girls of lower secondary school age were out of school in 2013” (UNICEF 2015), these findings further crystallize the point that gender inequality is the most urgent issue in global political economy , the failings of young women and girls in many parts of the world would ultimately add to the economic failures of the country .
Gender inequality has severe consequences for not only nations but the global economy as a whole thus further reiterating the extent to which this issue is an urgent economic issue for the world, | The Guardian. 2015. Economic inequality for women, study finds that ” Economic inequality for women costs an estimated $9tn per year in the developing world ” This astounding finding exemplifies the urgency to which the global market needs to address this issue, an entire continents economy is effected which will no doubt also effect the worlds economic market as a whole
Economic Development and Gender Equality: Is There a Gender Kuznets Curve? – ResearchGate. [ONLINE] Available at:http://www.researchgate.net/publication/259430671_Economic_Development_and_Gender_Equality_Is_There_a_Gender_Kuznets_Curve. [Accessed 05 November 2015].
Opportunity Now | BITC Diversity – Opportunity now. [ONLINE] Available at:http://opportunitynow.bitc.org.uk/. [Accessed 05 November 2015].
– Fanti (Ghana) Proverb. [ONLINE] Available at: http://www.afriprov.org/african-proverb-of-the-month/25-1999proverbs/146-sep1999.html. [Accessed 05 November 2015].
| Aaron Benavot. 2015. Gender Equality – It Can’t Yet Be Counted But It Most Certainly Counts | Aaron Benavot. [ONLINE] Available at:http://www.huffingtonpost.co.uk/aaron-benavot/gender-equality_b_8303138.html. [Accessed 05 November 2015]
The Guardian. [ONLINE] Available at: http://www.theguardian.com/sustainable-business/2015/jan/23/women-inequality-income-pay-actionaid-study-economy. [Accessed 05 November 2015].