Saturday, March 6, 2021

Saving Capitalism and Women's Work

I've been on a quest to learn more about the economy. It mostly started 20 or so years ago when I wanted to know how to invest money in the stock market when I worked. My dad never trusted the stock market, but our employers were (are) always saying put your retirement money there, so I wanted to understand it better. Finally, I'm starting to get it after listening to Saving Capitalism by Robert Reich. Basically many regulations were dropped making it, well less regulated, and there's a whole bunch of insider trading going on. The stock market used to be more predictable and make more sense, but now it sounds like it's kind of wild territory. So, it really helps to know the right people. But, that's not the point of this post, although I do have a lot more to say about the book.

In chapter 22 of the book, Reich is talking about the mechanization of jobs, and therefore the loss of jobs (lab techs, tax software...) to machines, yet the in-person service "one-to-one" jobs like nursing home aids, home health care aids, child care, etc. cannot and are not being replaced! It struck me that these are the jobs with the "human touch" as he says, and the responsibilities so often fulfilled by women/mothers. So, even economist, Robert Reich might say women/mothers are irreplaceable. It's easy to devalue women's work, but when it comes down to it, it cannot be replicated by a machine.

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