Many people talk about gender pay inequality as a female problem, actually it is a problem that costs the overall economy (everyone) greatly. While business leaders and politicians fear slow growth and fixate on ideas to stimulate the economy, pay equality is an obvious area to focus policy attention.
A woman earns around 80 cents for every one dollar earned by a man. What would happen to the economy if the gender pay gap closed? Here is a direct video link.
One thing for sure, policies that continue to funnel income gains to the same tiny fraction of the working population over the past 20 years, have had a counter-productive, depressive effect on the velocity of money (movement/multiplier effect) through the economy, as shown below since 1900 from Hoisington Management. If we want to increase the growth, we need to spread the wealth and share child rearing responsibilities more equitably.
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