Abstract
Economics and philosophy has a deep connection. It sometimes intertwined with each other whether economics needs philosophy or not. Philosophy of economics is a neccessity in order to understand the circumstances behind the economics events. Comprehension of such a neccessity can be complicated on certain occasions because of neoclassical economics thought. Neoclassical economics is also described as mainstream economics. This has long been a debate that critisizes mainstream economics. All followers critisizing mainstream economics are characterized as heterodox economics. Two of the fundemantal heterodox economics concepts are institutional economics and feminist economics. This study will therefore scrutinize mainstream economics in terms of the idea of old institutional economics and feminist economics.
TopBackground
Several publications about institutional economics and feminist economics can be found in the literature. There are however a few publications focusing on both topics at the same time. The nature of those schools gets to be ignored every so often. Nevertheless, there would be a precise common point between two schools, women and their institutional feature. Naturally, feminist economics focuses on how women’s conditions are affected by economics. There are several notions to describe the circumtances. The very renowned aspects are discrimination and segregation. Then again, institutional economics focuses on how institutions are determined by economics. At this point, defining the ownership of property is very important. Because, even women are seen a part of ownership model. The institutional economics seeks for answers to institutions’ evolution and how much effect they have on individual’s behavior. So, as a matter of fact, both institutional economic and feminist economic has an inquisitiveness on women’s working conditions.
Key Terms in this Chapter
Vertical Segregation: The situation when people do not getting jobs above a particular rank in their jobs because of their especially sexes.
Gender: Either of the two sexes (male and female), especially when considered with reference to social and cultural differences rather than biological ones. The term is also used more broadly to denote a range of identities that do not correspond to established ideas of male and female.
Discrimination: A treatment or making a distinction in favor or against between sexes. It can be seen at the same job or emerging different payment conditions.
Segregation: It can emerge the jobs divided as men’s job and women’s job.
Horizontal Segregation: It arises when men and women do different type of Works like if woman works as secretary or a nurse.
Institutional Economics: A heterodox economics branch how institutions are effective on economics.
Feminist Economics: A heteredox economics branch which focuses on how women’s work and economics can be gathered.