Nobel prize: Nobel prize won for explaining the gender pay gap

in Economic Science was awarded on Monday to Claudia Goldin of Harvard University for her path-breaking work on women’s labour-market outcomes.

This led to work that, for instance, empirically demonstrated the importance of the birth-control pill in the 1960s for female labour force participation. A consequence of this was that university-educated women starting investing more in their education and delaying marriage. This lays the groundwork for serious debate about policy questions like the availability of childcare as an important policy lever. And it frames the debate nicely for those on the left who wish to close the gender pay gap and emphasise the importance of female labour force participation; and for those on the right who see the outcomes as stemming more from choices that women make.

Source: News Formal (newsformal.com)

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