Feminist Economics : A General Review

Abstract

Feminist economics is a heterodox approach that challenges traditional economic theories by emphasizing gender inequalities and advocating for more inclusive analyses. This interdisciplinary field critiques the exclusion of non-market activities, such as childcare and domestic work, from conventional economic models. It argues that the omission of these activities results in substantial gender bias. Feminist economics has introduced new perspectives on economic success through the capability approach developed by Amartya Sen and Martha Nussbaum. This approach focuses on individuals' potential to achieve well-being and justice rather than merely economic output like GDP or income. Key concepts within feminist economics include household bargaining, measurement of unpaid work, and advocating for policies that support gender equality and social justice. The field also employs interdisciplinary data collection methods, such as time-use surveys and qualitative interviews, to gather more accurate data on non-market activities and their economic value. This study offers an exploration of the fundamental concept, theoretical and historical framework of feminist economics. It will also highlight the political implications of the field, examine its global influence, and explore its connections to other related fields. Additionally, the study will analyze future of feminist economics.