Women can make the world better
Esther Duflo, co-founder and co-director of the Abdul Latif Jameel Poverty Action Lab (J-PAL), is the second woman to receive the Nobel Prize in economics, which she earned in 2019. Claudia Goldin is the 2023 recipient of the distinguished prize, making her the third woman to receive the honour since 1969. Meanwhile the Nobel Prize in economics has been awarded to 90 men.
Economic history has long been chronicled through a male lens, emphasising the contributions of men and their viewpoints. Just look at the Nobel Memorial Prize in Economic Sciences. It has been awarded to 90 men since 1969 — and just three women. The first, Elinor Ostrom, won in 2009 for explaining how local communities, most of them in developing countries, govern themselves. The second, Esther Duflo, won in 2019, for her experimental work in alleviating global poverty. Claudia Goldin was the third woman awarded the Nobel Prize in Economics in 2023 for her work explaining why women earn less money than men even when they do the same work.
Economics science is focused on studying systems for producing economically valuable goods and services efficiently. Natural and human resources are measured by economists in money terms. Claudia Goldin was awarded for her work explaining why women earn less money than men even when they do the same work. A woman’s work in the family contributes to the well-being of humans in society: it does not add to the growth of the economy and GDP. Ms. Goldin’s research reveals that women, who also attend to the caring work required for families at home, are considered less valuable in economic enterprises because they cannot commit to continuously working full time for their employers, which men can.