Question

Please comment about 2 short paragraphs about gender income inequality in todays society and the impact of it on the economy.

Answer 1

In today's world the importance of education is not hidden from it and has played an important role in spreading awareness about gender paygap. But, still gender pay-gap is a problem in today's society. Gender pay-gap is more of inequality rather than discrimination and captures a much broader concept than the concept of equal pay for equal work. Although, these inequality is narrowing down.

Various researchers have said that small reduction in gender pay gap will lead to incredible increase in GDP per capital. Despite knowing off the economic advantage, the gender pay gap hasn't been abolished. Apart from improving the pay gap, increase in women labor participation will also contribute to increase in economic benefits . We can also think in a way that persistent low wage (due to gender gap) will lead to lower lifetime for female and thereby less net income for family, lower savings more poverty and less expenditure which in long run will hamper the growth of country's economy. Equal pay for same skills and works will improve the quality of life as well as boost the economy.