The Divide
When thinking about development,
what usually comes to mind is economic growth or the “process of capital
formation” as mentioned within the Neoliberal Development Theory. This growth
is supported by the notion that economic increase will result in development of
all of societies members (men and women included). Nevertheless, it continues
to be very evident that despite economic growth, women and men still have large
gaps that are reflected in the way not only means of production, savings and
investment are distributed but also, who has the knowledge and skills to manage
and administrate these things.
As seen on the video, certain
gender roles for specific household activities are changing and transforming
within western or western influenced societies. Nevertheless, the bulk of
domestic work is still carried out mostly by women. What is also evident from
the video is that although these domestic tasks from the private sphere seem to
be gaining male participation, women participation in the public sphere of
economic growth is still not representative. This leads us to infer that within
the context of a globalizing capitalist system, economic growth is not neutral
but rather a gendered process in which the outsiders continue to be women.
Things like knowing how to invest in mutual funds, the difference between a
mutual fund and an SIP, filling your own income tax return and knowing what to
do to buy a car or house by yourself, are all knowledges that are mostly
allocated to men. This is not to say that women do not have the access to this
information. In some cases, they do in others there might be barriers,
regardless of the case, the acquired gender roles from households seem to
replicate themselves in the gendered process of economic growth.
How are gendered roles within
households perpetuating the partial or non-existent role of women in finances
in the private and public sphere? Are financial literacy programs enough to get
women to actively participate in the economy or is this just a “band-aid” for economic inclusion and development? What else is needed or can be done?
Thank you for sharing this video. This is really thought-provoking.
ReplyDeleteThere is a gap that exists between men and women when it comes to finances, insurance, politics, or the seemingly "hard" topics.
Before coming to the US, I worked at a stockbroking firm in Nigeria and about 70 to 80 percent of our clients are men. When you ask women about finances, investments, stockbroking, stocks, treasury bills, and commercial papers, they have little or no understanding and this could have been caused by several different reasons. It is obvious that despite economic growth, women and men still have large gaps that are reflected in the way not only means of production, savings, and investment but also, in who has the knowledge and skills to manage and administrate these things.
This did not just happen overnight. It starts from the smallest unit of socialization - the family. You would see a parent buy barbie dolls and set up kitchen toys for their girl child but toy cars, and toys that have to do with calculation and reasoning are bought for the boy child. Gendered roles start from there. It starts from the little things like toys.
These boil down to gendered roles and that is why I mentioned in our last class activity that gendered roles have to be retaught, and we all are needed in this.
Also, I do not think that financial literacy programs to get women to actively participate in the economy are just a “band-aid” for economic inclusion and development, instead, I think there is a need to address the root cause which is still gendered roles.
I really enjoyed the video, thanks for sharing.
ReplyDeleteAs cliché as it may seem, from the inception of childhood, some roles are assigned to men and women and that include even defining and assigning interests of men and women. However, in as much as some women may lack knowledge on important financial information, there is a fraction of women who are independent in this regard. Absolutely! Gender roles strongly contribute to the perpetuation of the non-existent role in the finances of private and public sphere. In the sense that from the angle of education, there are some courses or programs that have been labelled “courses for boys/men” like accounting, business, law etc. whereas others like home economics, early childhood education-for women. So, from the onset, the interest of women, due to the socially constructed prescriptions assigned to them in education, women assume it is not an area to specialize or gain further knowledge of aside being paid at the end of each month or biweekly. Therefore, even though the world is evolving, and times are changing, these perceptions still persist and the gap either widens or the gradual closure of the gap is very insignificant.
Also, I agree with Hephzibah that financial literacy programs are not a band-aid to inclusion and development, however, it is/can be a starting point to bridge the gender gap regarding financial issues. Nonetheless, speaking from the Ghanaian perspective, I think these programs should not only be promoted in schools but marketplaces where women are dominant (and other women-dominated workplaces). These programs can be weaved in a way that will not attempt to dispute or go contrary to the cultural and personal beliefs of those women to enhance interest and active participation.
This video is really accurate. Thank you Mabel for sharing. The topic about inequalities among men and women can never be overemphasized as it is seen in variety of aspects.
ReplyDeleteAs clearly demonstrated in the video, financial inclusion is one of the main areas where the gender gap is observed and this again begins from the family. The exclusion of women in matters of finance begins from the household where the women are assigned specific role; mainly domestic roles and the men are allowed to delve into the finance of the household. From this point, the woman doubts her ability to engage herself in topics relating to money and other financial investments. It is not surprising that men dominate courses like accounting, finance, mathematics and statistics in most universities because these are courses perceived to be for men. The financial illiteracy of women especially in developing countries is seen as normal until there is an awareness where they realize these are topics they should have been familiar with but as a result of the exclusion from finances at the early stage in the family, they remain ignorant of such topics hence always relying upon men to make these decisions on their behalf.
Looking at way forward, I also believe the most effective way women can be included in finances is through financial literacy programs as clearly stated by Hephzibah and Obk22. Both men and women need to unlearn, learn and relearn gendered roles to ensure equality and an even development.
This is an amazing example of how gender inequality in the Indian context. While this issue may play out in a very similar or different manner in other parts of the world, this video brings out the lack of financial inclusion of women in the Indian context. The women in the video are working professionals, and we see the gap is huge. Sadly, the video brings out only the tip of the ice-berg, as it leaves behind the disparity that women face due to class, caste and education.
ReplyDeleteIn Mcilwaine and Datta’s article, one of the core assumptions of GAD approach was “that policies and interventions could modify socially constructed gender roles and relations, with a focus on addressing strategic gender needs and interests” (Moghadam, 1998; Moser, 1993). As I see this video, and read this thought-provoking article, I am still thinking of “the divide” between policy, theory and the ground reality. Policies and Interventions in the Indian context, have failed to include women in the economic realm. Even today, the handling of money in a regular Indian home is done by the male member. I am reminded of an aunt in Kerala, she is over 60 years old, and has worked all her life. She makes a substantial pension, which is handled by her husband. She is unable to purchase the things of her choice or invest in bonds and mutual fund, as the control is with her husband. This is the narrative of most of the families in India.
There has to be a more nuanced and specific approach to include women in financial literacy. Educational fields offered to women in India are very different from the men. The structure and the system, exclude women from these financial roles. The exams conducted for a chartered accountant takes many years, this doesn’t give Indian women the opportunity to choose this career, as they do not have the liberty of time due to the patriarchal marriage structure. I believe, the development policies should consider the overlap and intersection of various cultural and political barriers to women’s development. It is only then, that we will be able to include women into the male dominated fields like accounting, finance, banking, and stock markets.
Profession choosing and interest is also a product of socialization and peer pressure. When most women choose conventional careers, it becomes a norm. I would like to end my note by emphasizing the issue of “stereotyping” within patriarchal cultures, that thrive on highlighting the issues of women, like “not being good in mathematics” or “ not good at logical reasoning”, without taking into consideration the social, cultural and economic disadvantages they face.