Capitalism and Feminism - Are They Compatible?

What do we Understand by Capitalism and Feminism?

Capitalism is an economic system in which companies are owned and operated for profit by individuals rather than by the state. The essential characteristic of capitalism is the motive for profit. 

Feminism means that all genders have the equal rights and opportunities. It is about respecting the different experiences, identities, knowledge and strengths of women and enabling all women to enjoy all their rights.

Capitalism- The Order of the World 

The question of whether capitalism is good for women has long been discussed by both feminists and non-feminists. But the increased interest in the question is embedded in a specific context. So what are the present-moment conditions that encourage such a debate?

On one hand, capitalism is in crisis. Not necessarily an economic crisis in the sense of an actual recession. But we've seen incentives for more than a decade, including a multi-trillion-dollar bailout of central banks, years of quantitative easing, and a new normal of low government rates to keep investors from falling off cliffs together.

Despite these incentives, wages and economic growth remain stagnant. Meanwhile, neoliberal capitalism is going through a deep crisis of legitimacy. There is a general loss of confidence in the government and a decrease in confidence in capitalism.

The Politics of Capitalism and Feminism  

The defeat of Hillary Clinton in the context of the crisis of legitimacy of neoliberal capitalism has overturned the prevailing model of neoliberal feminism- the idea that feminist goals are best achieved by any woman who aspires to be in a position of power and to succeed in the capitalism. 

Increasingly, women, especially young people, are calling for an unusual feminism that has either anti-capitalist or connotative connotations. Polls have found that about half of young adults prefer socialism to capitalism, and according to Pew, 53% of Bernie Sanders supporters are women. 

In this context of crisis, which we can see as a moment of change rather than a collapse in itself, we look ahead and ask ourselves how feminists should align their positions and struggles. Now is the time to evaluate the hard-won victories and develop strategies on how to enable all women to truly enjoy them, and to promote new concrete affirmations that serve the broader goals of feminism.

Is Capitalism Exploiting or Empowering Women? 

Is capitalism an inherently exploitative, repressive and patriarchal economic system interwoven with the subjugation of women?

In political economy, exploitation describes a relationship in which someone sells his work to another who owns the means of production and makes a profit by paying her, the worker, less than the value of what she produces. 

So yes, most people, including women, are exploited in the sense that they work for wages and cannot buy food or pay rent without wages.

Is this oppressive exploitation, cruel or unfair treatment? Well, that depends. For example, in United States not every woman is oppressed. There are feminists and socialists who would oppose this assessment. 

Still, I don't believe that well-paid white women who have the respect, security, and autonomy to organise their work lives are oppressed, or at least not oppressed enough to get out onto the streets to fight for themselves.

Is it Really That bad? 

As a historical system, sexism and racism are a central component of capitalism's accumulation strategies. Sexism makes women's unpaid domestic work, indispensable to society; seem natural, as a service of love. 

Sexism and racism continue to be extremely useful tools in the employers' toolbox for dividing and repressing workers, discouraging demands for better wages and benefits, or blocking efforts to form a union.

Has capitalism helped empower women, improve their material well-being, and promote gender parity?

Women were empowered under capitalism. While we must be careful not to confuse correlation with causation, given lurking variables like the women's movement, the civil rights movement, the labor movement, and the environmental movement, it is still true that markets can empower women.

Money equals power. When today's women are fortunate enough to have wealthy parents or are born with fantastic skill or intelligence to help them land a satisfying, well-paying job, they will be empowered. In addition, they will be able to empower others on their social networks, such as their own children.

So Where do we Stand?

Finding out that some women are pretty self-sufficient within the sphere of capitalism doesn't mean the path is paved and that if we simply follow it, feminist goals will be achieved. 

The fabulous wealth of the relatively few at the top is not a coincidence or a harmless summit on a healthy floor full of people leading good lives. The market- friendly reforms of recent decades have made a handful of people (mostly men) incredibly wealthy, while the vast majority of people have stalled their livelihoods and limited their opportunities.

The incredible technological and scientific advances of the last forty years could have been used to dramatically reduce poverty, improve health outcomes and the environmental sustainability of our production processes, and ensure the security of supply and distribution of clean water, nutritious food and worthy. 

These are things that all people value. These are also the things that will empower women who suffer greatly because of their lack of them.

We have the tools to make a big difference in the lives of women in the world and of all people. However, we have not focused our resources, knowledge and energy on achieving this goal. Why? Because the goal of capitalism is not to make the world a better place, it is to make a profit.

Written by - Tanvi Mohanty

Edited by - Isha Singh