Breaking Barriers: Celebrating the 3rd Female Laureate of the Economics Nobel

Claudia Goldin, a professor at Harvard University, has been awarded the Nobel economics prize for her groundbreaking research on women in the labor market. This prestigious prize, announced by Hans Ellegren, secretary-general of the Royal Swedish Academy of Sciences in Stockholm, marks Goldin as only the third woman to receive this honor. Jakob Svensson, chair of the Committee for the Prize in Economic Sciences, highlights the importance of understanding women’s role in the labor market for society. Thanks to Goldin’s research, we now have a deeper understanding of the underlying factors and barriers that need to be addressed in the future.

Upon receiving the award, Goldin, 77, expressed her surprise and immense joy. Randi Hjalmarsson, a member of the prize committee, notes the vast societal implications of Goldin’s discoveries. By accurately identifying and naming the problem, we can pave the way for a better future. According to CNBC, Goldin’s research provides the first comprehensive account of women’s earnings and labor market outcomes throughout history. Her research uncovers new patterns, identifies causes of change, and sheds light on the main sources of remaining gender gaps.

It is worth noting that of the previous 92 economics laureates honored, only two have been women. The economics award, formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968 by Sweden’s central bank. Last year, the award went to former Federal Reserve Chair Ben Bernanke, Douglas W. Diamond, and Philip Dybvig for their research on bank failures, which played a crucial role in shaping America’s response to the 2007-2008 financial crisis. (Read more Nobel Prize in Economics stories.)