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Wednesday, March 8, 2017

Women Prosper when Markets Are Free

Is women's equality simply due to the "rich country effect," or true equality?

Today is International Women’s Day and, in some of the least surprising news of the day, it turns out that women’s equality ties into economic freedom.

International Women’s Day was founded by the American Socialist Party in 1909 and usually ends up celebrating women in government, politics, and statism, but let’s look at something else. Cross-referencing data from the Fraser Institute, which looks at general economic freedom, and World Bank in the United Nations, which looks at gender disparity, we see that countries that are more economically free also have more gender equality.

But could this simply be due to “rich country effect,” the idea that a wealthy country merely has more money to pay its women workers? Of course, there are particular examples to support both theories, but on average, globally, it’s true that more economic freedom means more gender equality.

What a novel idea.

Watch the interview below, and then go to our new audio RSS on SoundCloud to subscribe to the podcast. We’ll have it on iTunes soon, so stay tuned!

  • Dr. Antony Davies is an Associate professor of Economics at Duquesne University, and co-host of the podcast, Words & Numbers.

  • James R. Harrigan is a Senior Editor at the American Institute for Economic Research. He is also co-host of the Words & Numbers podcast.