Money and Households in a Capitalist Economy

Money and Households in a Capitalist Economy

A Gendered Post Keynesian–Institutional Analysis

Zdravka Todorova

Post Keynesian analyses of monetary production have not given much attention to households as institutions, while a good deal of the literature in feminist economics discusses households in a strictly microeconomic context, with little consideration of monetary phenomena. This book, a unique study of the capitalist economy, utilizes a distinctive combination of Post Keynesian, institutional, and gender analysis to examine household economics in capitalist society in order to flesh out the gaps in each.

Chapter 3: Introducing Gender in Post Keynesian Economics

Zdravka Todorova

Subjects: economics and finance, post-keynesian economics


DISCUSSIONS OF HOUSEHOLD RELATIONS AND GENDER IN THE POST KEYNESIAN TRADITION In order to focus on the interaction between monetary and gender processes in a pecuniary culture under a framework consistent with the Post Keynesian monetary theory of production, we need to identify ways to incorporate gender as an analytical category in this analysis without resorting to an ‘add women and stir approach’. Gender has not received serious attention within Post Keynesian economics and has been treated as unimportant for the advancement of a monetary theory of production. The household as one of the most ‘obvious’ institutions that manifests gender relations has also been ignored (Hanmer and Akram-Lodhi 1998). Although gender process is also manifested by business enterprises and the state, which are primary agents in the determination of the level of investment and employment within a theory of monetary production, ‘gender’ as an analytical category has not yet been considered. In this chapter, we offer some starting points for theorizing about households and gender which are already present in the existing Post Keynesian literature. The possibilities of importing household theories from other approaches are critically assessed. Consequently, I argue that there is a serious need for a genuine gendered Post Keynesian–Institutionalist approach that would treat households as one of the institutions in a pecuniary culture and gender as an analytical category. I shall start by surveying some explicit and implicit theoretical discussions of household relations in the Post Keynesian tradition (Hanmer and Akram-Lodhi 1998). The reason we are...

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