A sexist and inequitable global economy

Oxfam releases its report which focuses on these two problems in much detail

How, and why, the prevalent economic system in the world, based on which so much productivity is achieved, has led to an environmental crisis is becoming increasingly apparent. However, there are also other lingering problems afflicting the global economy, including the widespread inequalities it creates, and how its inherent sexism worsens the problem of gender inequalities.

As leaders of the world were gathering in Davos a few days ago, the rights-based NGO Oxfam again released its report which focuses on these two problems in much detail.

According to Oxfam, just over 2,000 billionaires around the world have more wealth than the 4.6 billion people who make up 60% of the planet’s population. Global inequality is deeply entrenched, and the gap between the haves and the have-nots is not diminishing. Using the latest data from Credit Suisse Research Institute’s Global Wealth Databook and the Forbes’ 2019 Billionaires List, Oxfam also points out how 22 richest men in the world have more wealth than all the women in Africa. Oxfam further estimates that women and girls make an unpaid care work contribution of $10.8 trillion per annum.

Women and young girls around the world spend many hours a day cooking, cleaning and caring for younger children and for the elderly. This unpaid care work is described as the “hidden engine” which keeps the wheels of our economies, businesses and societies moving. It is called a “hidden engine” because it is being driven by hapless female workers who themselves get little time to get an education, to earn a decent living, or to have any say in how their societies are run.

While gender and economic inequality is a global phenomenon, the situation in countries like Pakistan is particularly dire. Despite constituting 49% of the country’s population, only 24% of women are part of the labour force, according to the ILO. This implies that most women in Pakistan are engaged in care work for which they receive no recognition or monetary compensation.

Many women and girls in developing countries, like our own, are working in the informal cottage industries, in agriculture, or as domestic workers. Such employment offers them no job security. It requires long and erratic work hours with measly wages. As a result, exploitation and abuse in such work environments is rampant.

Despite the scale of this problem, most governments are massively undertaxing the wealthiest individuals and corporations and failing to collect revenues that could help lift the responsibility of care from women. Investments in water and sanitation, electricity, childcare, healthcare could free up women’s time and help improve their quality of life. Yet, such vital public services and infrastructure that could help reduce women’s workload remains grossly underfunded as governments keep giving tax breaks to big businesses in the effort to boost economic growth.

Gender and inequality gaps cannot be addressed by the promotion of a handful of women to the higher rungs of the intrinsically exploitative corporations. Much more comprehensive and targeted policies are needed.

Oxfam is the part of a growing global coalition of civil society organisations aiming to demand that economic systems be reformed so that they can work better for everyone. Such entities have pointed out, for instance, that the richest 1% needs to pay more taxes to enable governments to make social sector investments to help alleviate some of the invisible burden of women.

However, a handful of NGOs won’t be able to subvert the vested interests of the global elite and big businesses. Doing so requires ordinary people to shun divisive populism and overcome their own inherent gender biases. We collectively need to begin demanding and supporting leaders who are truly progressive rather than those espousing already tested and failed policies of trying to trickle down the benefits of growth which (by design) seem to keep accruing to those at the very top.

Published in The Express Tribune, February 7^th, 2020.

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