— Ch. 1 · Foundations And Origins —
Feminist economics.
~6 min read · Ch. 1 of 6
In 1988, a New Zealand economist named Marilyn Waring published a book titled If Women Counted: A New Feminist Economics. This publication became the founding document of feminist economics by systematically critiquing how national accounting systems excluded women's unpaid work and the value of nature from economic growth calculations. Before this moment, traditional economics had largely ignored the production and reproduction of domestic labor performed by women as the foundation of all economic transactions. Betsy Warrior wrote in Housework: Slavery or a Labor of Love that economics lacks any basis in reality because it leaves out the very foundation of economic life built on women's reproductive labor. Her argument stated that without this fundamental labor, there would be no economic activity nor survival to continue evolving. The field gained momentum when Ester Boserup published Woman's Role in Economic Development in 1970, providing the first systematic examination of gendered effects of agricultural transformation and industrialization. By the 1990s, feminist economics had become sufficiently recognized as an established subfield within economics to generate book and article publication opportunities for its practitioners. The International Association for Feminist Economics formed in 1992, followed by the launch of its journal Feminist Economics in 1994.
Critiques Of Neoclassical Theory
Paula England provided one of the earliest feminist critiques of traditional economics by challenging claims that interpersonal utility comparisons are impossible and that actors are selfish. She questioned assumptions that tastes are exogenous and unchanging while household heads act altruistically. These challenges targeted the neoclassical model known as Homo economicus, which describes a person interacting in society without being influenced by society through ideal market mechanisms. Feminist economists argue people are more complex than such models and call for a holistic vision including group interactions and actions motivated by factors other than greed. Nancy Folbre showed that cooperation plays a role in the economy alongside competition. George Akerlof and Janet Yellen developed efficiency wages based on notions of fairness where agents act in concert rather than as isolated hyper-rational individuals. Their work suggests wages can be influenced by fairness considerations rather than purely market forces. This approach draws from empirical sociology and psychology to show how jealousy and personal relationships affect economic outcomes. Traditional economics often views the sale of labor as mutually beneficial exchange benefiting both parties without mentioning power inequities favoring employers over employees. Understanding power and patriarchy helps analyze how men-dominated economic institutions function and why females face disadvantages in the workplace.