On June 24, 2022, when the Supreme Court overturned Roe v. Wade through the Dobbs decision, I was in an airplane seat next to my 11-year-old daughter. My phone was flooded with text messages—people asked for my opinion on the decision, requested comments, and inquired about its economic impact. They also wanted to know what it meant for my daughter, who now faced a future with fewer rights than I had when I was growing up.
Despite the shockwaves this decision sent, my lack of surprise stemmed from my perspective as a gender economist, closely tracking economic trends through a gender lens. This watershed moment was not sudden but the culmination of developments that began not in the public sphere but within the corporate world.
Redefining aspirations and recognizing inequities
From the moment my daughter entered the world, the dissonance between our promises to our young girls and the harsh realities they face became glaringly apparent. Despite societal assurances that my hard work and academic success would pave the way to any future I desired, the actual economic indicators tell a different story.
Women make up 58% of college graduates in the U.S., yet only 28% of Congress and 15% of the Forbes 400 list of wealthiest Americans. Returning from maternity leave with my daughter to fight for—and secure—equitable pay marked a pivotal moment for me as a breadwinner mom for a family of four. This personal victory underscored the broader societal tendency that misleads young girls about the biases they will face and anchors them in the myth of meritocracy, a narrative I actively sought to rewrite for my daughter.
Reflecting on ongoing inequities
Nearly two years post-Roe, the upcoming Presidential election seems poised to center around the issue of abortion rights. Yet, as crucial as the right to choose is, it merely scratches the surface of the systemic inequities for women in the labor force.
The call for the 2024 Presidential election, and indeed down-ballot races, to engage in genuine dialogue about advancing gender equity is not just a matter of fairness but a substantial economic imperative. Since 1970, women added $2 trillion to the U.S. economy through increased labor force participation. Another $3.1 trillion is on the table when we fully embrace the economic opportunity of intersectional gender equity in the U.S.
Recommending real solutions
Abortion rights, while fundamentally important, represent only the baseline of what we should aspire to achieve in terms of gender equity. The conversation must move beyond this baseline to address the structural inequities that limit women’s opportunities in the United States. To genuinely say to our daughters, “Yes, you can be anything you want to be,” we need to implement real solutions that address the $3.1 trillion opportunity for gender equity in the U.S.
This involves not only addressing the visible symptoms of gender inequity, such as disparities in abortion rights but also tackling the underlying causes. It requires a comprehensive approach that includes ensuring equal pay, providing equity of opportunity, and eliminating the gender tariff gap. As we move toward the 2024 Presidential election, these issues should be at the forefront of our conversations, demanding action to pave the way for a more equitable future.
Driving gender equity forward
As we stand on the cusp of another election cycle, it’s clear that gender equity cannot be an afterthought or confined to social issues. It is a critical economic issue that impacts all of us. The loss of women from the workforce since the beginning of the pandemic has been a blow not only to those individuals but also to the economy as a whole, siphoning off $1.1 trillion in economic growth.
Today, 377,000 women remain absent from the labor force compared to pre-pandemic levels, while almost 1.4 jobs are available for every job seeker. We can bridge this labor gap by 16% if we can reintegrate these women into the workforce. The time is now for honest conversations and actions that drive gender equity forward, leveraging the vast economic opportunity it presents.
Going beyond basic rights to full equity and inclusion
The path to gender equity is complex and requires a concerted effort across all sectors of society. As individuals, voters, and members of the corporate world, we have the power to effect change. By supporting policies and candidates that prioritize gender equity, advocating for changes within our workplaces, and educating ourselves and others about the economic benefits of gender equity, we can make a difference.
As we approach the 2024 Presidential election, let’s not lose sight of the broader goal: to build a society where gender equity is not just an aspiration but a reality. It’s time to move beyond the floor of basic rights to reach for the ceiling of full equity and inclusion. The future we build for our daughters—and for all individuals, regardless of gender—depends on our choices today.
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