It is not only about ethics: How much gender inequality undermines economies.VoxUkraine has analyzed the results of the Unrealized Potential: The High Cost of Gender Inequality in Earnings research
In its article, VoxUkraine refers to the results of the Unrealized Potential: The High Cost of Gender Inequality in Earnings research conducted by Quentin Wodon and Benedicte de la Briere.
To determine the implications of gender inequality the researchers analyzed the total wealth of 141 countries which account for more than 95 percent of the world population.
So, how does gender inequality affect economies? According to the analysis, if the gender pay gap were closed women’s human capital could increase from $283.6 trillion to $453.2 (based on the 2014 data).
If to estimate the amount of total wealth lost due to gender inequality over time, it increases from $123.2 trillion in 1995 to $160.2 trillion in 2014, which is about twice the value of global GDP. This increase comes from population growth, higher standards of living and other factors that affect the share of labor earnings in GDP over time. Elimination of gender inequality in earnings could make human capital wealth grow by 21.7 percent globally, and total wealth by 14 percent.
Do you want to learn more? Read the VoxUkraine article! СТАТТЮ VoxUkraine