Why You Should Care About The 2023 Nobel Prize In Economics

Because gender pay gaps exist and persist unless we act

Prajakta
2 min readNov 11, 2023

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Photo by Dainis Graveris on Unsplash

“Why do we care about gender pay gaps?” was a question I was unable to answer. Despite being a woman, I somehow never resonated with the comparison of salaries between two genders, between two countries, and between two industries. My income is mine, and yours is yours. Period. Why do I care about how much you are paid for a job, that we both do?

However, when we quietly hold our questions, long enough, the answer appears from within. And so it did.

Here’s why I do care, and why we must all care. We must care about gender pay gaps because they systematically lead to men amassing greater wealth, and hence power. Greater wealth leads not just to higher purchasing power in our economies, but also greater decision-making power. In our world, in our economy, and also in our families. Decisions that affect us all but are made by a select few. That is the root of the problem.

When we live in a world shaped by decisions made by men, for men through systems that serve men, women lose out. In fact, over time, everybody else loses out too, including men. Creation only sustains when it emerges from “Shiva” and “Shakti” working in tandem. Creation is a balanced, and democratic process. And…

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Prajakta

Economist, meditator, and author of “Buddha Balance Journal”. Thank you for reading my thoughts-in-progress. Join my quarterly Substack: https://bit.ly/3XX5Sid