GS Paper 3
Syllabus: Inclusive Development
Context: Claudia Goldin, a Professor of Economics at Harvard University, has been awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2023 (also known as the Nobel Prize in Economics) for her contributions to understanding women’s labour market outcomes
- She is only the third woman to receive this honour since its inception in 1969.
The article can be read in continuation of Saturday’s article: Low Female Labour Force Participation Rate in India
About Claudia Goldin:
Claudia was born in New York, in 1946 and completed her Ph.D. from the University of Chicago in 1972. She is known for her pioneering research into women’s roles in the economy, with a focus on historical data from the United States.
Claudia Goldin’s ground-breaking Work:
Significance of her work:
Claudia Goldin’s work has shed light on important questions about gender differences in the labour market, education, marriage, and parenthood. Goldin’s research has provided valuable insights for policymakers and society, helping to address barriers to women’s participation in the labour market.
While her research focused on the U.S., its findings have broader applicability, providing valuable insights into labour market dynamics in many countries.
For more read: Low Female Labour Force Participation Rate in India
2022 Nobel Prize in Economics was awarded to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig “for research on banks and financial crises.” Unlike the other prizes, the economics award wasn’t established in Alfred Nobel’s will of 1895 but by the Swedish central bank in his memory. The first winner was selected in 1969.
Mains Links:
Distinguish between ‘care economy and ‘monetized economy’. How can the care economy be brought into monetized economy through women empowerment? (UPSC 2023)
