Dear Readers,

What Would the Economy Look Like if It Truly Worked for Women?

Imagine a world where the economy isn't a labyrinth of systemic challenges for women, but rather a leveled playing field. How different would that landscape be? Join me in this crucial exploration of the economic inequalities that women encounter daily, and get inspired by the astonishing stories of women like Dame Sarah Storey who've managed to defy these systemic odds.

Highlighting Similarities

Dame Sarah Storey, the extraordinary woman I've written about in my book, "Ride on! Dame Sarah Storey's Extraordinary Journey of Triumph," exemplifies the act of overcoming systemic barriers. Just as Sarah navigated societal norms and physical limitations to achieve greatness in sports, women everywhere maneuver through an economy filled with gender-specific hurdles. From the gender pay gap to inadequate childcare support, the economic realm remains fraught with challenges specifically designed for women.

In-Depth Discussion

Researchers Heather McCulloch and Céline Apollon have pointed out key challenges that women face, which include high housing costs, caregiving responsibilities, and employment in low-wage jobs. Let's delve into these:

1.     High Housing Costs: Often confined to lower-paying jobs, many women find the dream of owning a home a far-off reality. Policy changes must address this inequality by making housing more affordable.

2.     Caregiving Responsibilities: Women are frequently the primary caregivers, often with no financial compensation. This reality handcuffs many to a limited economic future, highlighting the need for policies that offer paid family leave.

3.     Low-Wage Positions: The clustering of women in low-wage sectors is a systemic issue that exacerbates economic disparities. This calls for policies that offer career advancement opportunities tailored for women.

Case Studies

• Maria, a Latina entrepreneur, had her loan application denied due to discriminatory lending practices. Instead of giving up, she mobilized her community to crowdfund her business.

• Sophie, a transgender woman in tech, combated career stagnation through legal recourse, raising awareness about workplace biases in her company.

• Keisha, an African American mother, balanced multiple jobs and family needs. She started a community childcare cooperative to help her and other working moms.

Actionable Tips

1.     Advocate for Yourself: Know your value and don't be afraid to communicate it. Equip yourself with negotiation techniques, such as understanding your BATNA, to enhance your bargaining power.

2.     Invest in Skills: Empower yourself by learning new skills. Whether it's coding or effective communication, platforms like Coursera or LinkedIn Learning can be useful resources.

3.     Network Effectively: Leverage your social capital. Attend industry events, engage professionally on social media, and consider finding a mentor to guide your career trajectory.

We often discuss redefining success and pushing boundaries in personal growth. This principle is intrinsically connected to economic reform. Creating an economy that truly works for women is about redefining societal structures and obliterating barriers—a topic that resonates deeply with every woman who dares to dream bigger.

Let's keep the conversation going. I invite you to share your experiences and opinions on shaping an economy that fully serves and empowers women.

Warmly,
S.A. Sterling

Source: Carrazana, Chabeli. "What would the economy look like if it worked for women?" The 19th News, 29 March 2023, https://19thnews.org/2023/03/women-economy-barriers-inflation-caregiving-housing-policy/.