Family Theory: Feminist–Economist Critique

Abstract

The critique from feminist economics of economic family theory has largely been directed at the version developed in neoclassical economics, often referred to as the ‘new home economics,’ though Marxist economic approaches to the family have also come in for their share of the criticism. Feminist economics challenges nearly every aspect of neoclassical economics. First, feminist economics challenges the limited role accorded the family of household, noting that caring labor is a large part of social reproduction. Second, the neoclassical economics model assumes choice by individuals of different relative productivities exercising their individual preferences, but it fails to explain why domestic labor is most often performed by women. It offers no convincing explanation of why this would be so. Third, it is hard to see whose utility is being maximized, since nothing in economic theory suggests that two adults often have identical utility functions. An example of a feminist model is used to demonstrate how the traditions of neoclassical, institutional, and Marxist economics are all challenged and incorporated in changed forms.