Economics has long had a problem with women, diversity, and inclusion. Women and other underrepresented groups remain marginalized and largely excluded to this day.
Adam Smith (1723-1790), the founding father of economics who provided a theoretically coherent analysis of early industrial society, excluded women and their work in the household from his two major texts and his economic analysis. He did this in line with the legal practices of his day, in which women were at all times represented by men before the law.
The economic language Smith developed ignored women as economic agents in their own right, while assuming access to their labor. Smith laid the foundation for the continuing silence of economists on women’s contribution and role in the economy, and for the limited number of women in leadership positions in the field. The bias of Adam Smith and most later economists against valuing women’s economic contributions and their role in the economy has been basic to economic analysis.
As we celebrate 300 years since the birth of Adam Smith and the relevance of his work today, it is critical that women and their contribution are a core part of economic analysis. Society and the economy have changed fundamentally since the early industrial revolution, and economics needs to evolve to address economic issues of the 21st century.
The field of economics is still struggling with “gender blindness.” This has had major implications for the development and direction of economic research, theorizing, and policy making. Besides affecting women in terms of gender gaps in wealth and wages, it also negatively impacts the economy, prosperity, and wellbeing in general.
We, economists and others are concerned about gender bias in economics and the underrepresentation of women and men of color in the economics discipline. It is time that this marginalization be acknowledged and addressed, both in intellectual analysis and in ground-level practice.
We are committed to putting forward practical solutions to bring more women and men of color into economics. We ask you to support our initiative and work with us to achieve a critical mass of women and diversity in the discipline.