Adam Smith, women and conflictive economic relations

Abstract

Prepared to celebrate the 300th anniversary of Adam Smith, this document aims to dispel the notion that the esteemed philosopher, recognized as the father of economics, lacked inclusive thinking. To achieve this, we explore how the primary model of economic theory reconciled its divergences with Smith's theoretical vision to adopt a gender perspective. By comparing Smith's rules of economic order with the equations of the individual consumer behavior model (CBM), we discover that the main disagreement between these two theoretical arguments lies in the Law of Indifference adopted by the CBM. Additionally, we delve into the challenges of applying the analytical framework rooted in indifference to study collective decision-making, centering our focus on economic choices made by women in a couple. Through this analysis, we find that embracing the alternative framework free of indifference is crucial for effectively capturing the distributive disputes inherent to couples' decision-making, which can result in unfair outcomes. This alternative approach better reflects the conflictual nature of wealth affairs, aligning more closely with Smith's original theory. Consequently, it becomes evident that the model embracing a gender perspective enhances alignment with Smith's philosophical conception of human behavior. The document's final remarks serve to remember Smith's brief but substantial theory on women's inequality and highlight the crucial contributions of the gender economic approach in understanding the causes and consequences of economic disparities. By recognizing the significance of Smith's theory and embracing the gender perspective, we honor his legacy and pave the way for addressing the unique challenges hindering gender equality.