Has the Legal System made Women Financially Illiterate?

Not too long ago, a major leader (a man over 60) in my well-known civic organization was encouraging members to make contributions to the foundation of said organization. As part of his pitch, he said something like, “Your wife probably spends more money on shoes than this gift.” The room erupted into laughter and no one batted an eye…except me. His comment furthers the stereotype that the wife’s job is simply to spend money and that she isn’t involved or interested in the household’s financial decisions. He later explained the comment by saying, “I’m a country boy and old school.”

This man wasn’t trying to be offensive or dismissive of women’s financial capacity. His words felt normal and natural to him because they describe a situation that was more or less reality during much of his life. The fact is, for men of his age, it is normal to think that way because that’s what the culture he grew up with established as a standard.

Women have made dramatic gains in terms of workforce participation and earning power over the past half-century or so. That’s easy to forget when we’re focused on the lingering lack of equality in these areas, but look at the progress:

• In 1950, women made up only 29.6% of the workforce vs. 46.3% now.*
• Since 1950, labor force participation has risen…