Shortchanged: Why Women Have Less Wealth and What Can Be Done about It

ISBN-13: 9780199896608 / Angielski / Miękka / 2012 / 226 str.

Mariko Lin Chang

Opis

Women now receive more college degrees than men, and enter the workforce with better job opportunities than ever before. Indeed, the wage gap between men and women has never been smaller. So why does the typical woman have only 36 cents for every dollar of wealth owned by the typical man? How is it that never-married women working full-time have only 16% as much wealth as similarly situated men? And why do single mothers have only 8% of the wealth of single fathers?

The first book to focus on the differences in wealth between women and men, Shortchanged is a compelling and accessible examination of why women struggle to accumulate assets, who has what, and why it matters. Mariko Lin Chang draws on the most comprehensive national data on wealth and on in-depth interviews to show how differences in earnings, in saving and investing, and, most important, the demands of care-giving all contribute to the gender-wealth gap. She argues that the current focus on equal pay and family-friendly workplace policies, although important, will not ultimately change or eliminate wealth inequalities. What Chang calls the "wealth escalator"--comprised of fringe benefits, the tax code, and government benefits--and the "debt anchor" must be the targets of policies aimed at strengthening women's financial resources. Chang proposes a number of practical suggestions to address the unequal burdens and consequences of care-giving, so that women who work just as hard as men will not be left standing in financial quicksand.

A comprehensive portrait of where women and men stand with respect to wealth, Shortchanged not only sheds light on why women lack wealth, but also offers solutions for improving the financial situation of women, men, and families.

Recenzje

Shortchanged provides a comprehensive account of the gender wealth gap, highlighting its causes and consequences and proposing solutions to improve women's economic well-being. Chang'smain contributions are twofold. First, she presents a thorough documentation of the wealth gap between men and women-a comparison not available anywhere else. Second, she identifies the underlying mechanisms that are responsible for the gender wealth gap... Thanks to current events like the Great Recession and the Occupy movement, Chang's account arrives on the scene at a time of heightened concern about wealth. Given its compelling and timely subject matter, accessible style, and theoretical insights, this book is ideal for anyone interested in gaining a deeper understanding of wealth inequality.

O autorze

Mariko Lin Chang is a former Associate Professor of Sociology at Harvard University. She currently works with universities to diversify their faculty and also works as an independent consultant specializing in data analysis of wealth inequality in the US.