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Why Claudia Goldin won the Nobel Prize in Economics
Oct 11, 2023
Claudia Goldin, the first woman to win the Nobel Prize in Economics solo, discusses her research on the gender pay gap and women's workforce participation. She challenges common beliefs about economic growth, highlights the impact of societal expectations, and examines progress made in recent decades. She also explores the relationship between education, careers, and the persistence of the gender pay gap, especially after women have families.
07:05
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Quick takeaways
- Claudia Goldin's research revealed the underestimation of women's labor force involvement due to flaws in historical data sets.
- Societal expectations and outdated rules played a significant role in limiting women's career choices and labor force participation.
Deep dives
The U-shaped curve and the historical data sets
Claudia Golden's research revealed the U-shaped relationship between economic growth and women's participation in the workforce. She unearthed flaws in historical data sets that had previously ignored the participation of married women, resulting in a significant underestimation of their labor force involvement. Inclusion of these women in the data showed that their participation rates would have been three times higher than previously thought. However, with industrialization, the flexibility for women to work from home decreased, leading to a decrease in labor force participation.
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