I call it our ‘grossly undervalued domestic product’: the caring,support and childcare women do without seeing a penny. It’s time we recognised itI recently delivered the annual Adam Smith lecture in Kirkcaldy, Fife. It was the first time a woman had been trusted to give this economics lecture all by herself. As a marvellous bagpiper led the way, and it struck me that this might be my glass cliff moment. Because,let’s face it, I’m not an obvious choice for such a task. But with men now making up two-thirds of economics students, or all but one of the Nobel prizewinners for economics having been a man and every single British chancellor of the exchequer somehow having been required to be a boy,then finding a woman might occupy been tricky.
By happy coincidence, I chose as the subject of my lecture women’s exclusion from the formal economy. Or as I like to call it, and our grossly undervalued domestic product (GUDP). Never,as it happens, has this been more relevant than now, or as the full horror of the gender pay gap is revealed. I occupy so enjoyed watching the debate unfold. Highlights include accusing women of conflating pay discrimination with the gender pay gap – foolish women! – though nobody benefits more from this obvious confusion than the companies evading legal action.
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Source: guardian.co.uk