In Chapter 4 of our bestselling book “Behold the Leviathan: The Unusual Rise of Modern India” we highlight the vertiginous rise of Indian women in academics, entrepreneurship and in the workplace. As a result of this, Indian women usually have more money and have more assets under management than their husbands and increasingly earn more than their husbands. However, what this article from the BBC says, such male underperformance has an impact on male self-esteem. Melissa Hogenboom writes:
“What we earn can affect our mental wellbeing, especially when we compare ourselves to those around us – and it can negatively influence male mental health.
“It stings your pride a little bit that your wife’s the one out making all the money,” said Dave, of his status as a stay-at-home dad.
“I’m, you know, a guy’s guy… you tell them you stay home, and… they think you’re some feminine dude,” said Tom. Both were participants in an in-depth research study where men and women were interviewed about the impact of the women in the relationships being the breadwinners.
Another, Brendon, had good reason to feel judged: family members labelled him “the house bitch”.
In the study, the men said they felt judged partly because it’s long been assumed that men are the main breadwinners in society. However, an increasing number of women are outearning their male partners, and this gradual rise of female breadwinners is revealing that who earns the money has lasting and influential impacts on power dynamics both at home, and in wider society.
A key reason these changing family dynamics are so influential is because money is so closely tied to power. When men aren’t the highest earners in their household – but are expected to be by some sections of society – it can lead them to feel disempowered, decreasing mental wellbeing and even increasing the likelihood of divorce.”
Whilst – fairly predictably – evidence abounds that across the world men tend to be more prone to mental illness if their spouses out-earn them, what is more interesting is the positives which emerge from this situation:
“Despite many countries having minimal paternity leave available, when fathers do take paternity leave, marital satisfaction can increase, as can father involvement in childcare – even when fathers return to work. Dads who take parental leave show greater bonds with their children, who will, in turn be more likely to grow up witnessing a more equitable division of labour. It follows that how parents divide housework will go on to shape what their children expect later in life, too. A more equitable division of labour at home also helps women pursue careers more easily and therefore increase their earning potential.
But the benefits to women of these societal shifts go further. In a study looking at Mexican households, a team found that the more work opportunities that women have outside the home, the more power they have in other domains, too. In other words, they gain more bargaining power over larger financial decisions. This tallies with other research. If a woman is empowered financially where historically she has been disempowered, naturally it can have a positive impact on her earning power, her autonomy and her career.
When norms are changed and it becomes routine for men to step back from work for family commitments, it can increase the wellbeing of the whole family. Swedish data for instance shows that when paternity leave was first introduced and fathers were given a so-called “daddy month” in 1995, the initial cohort of men who took this leave experienced reduced marital stability and the likelihood of separation increased. When the policy increased the amount of leave available to two months in 2002, this was no longer the case. Today, Swedish parents have three months available each in a use-it-or-lose it policy, and the rates of uptake for dads, as you would expect, are high.”
Both in the West and in India, more women than men now go to university. If, as seems increasingly likely, automation and AI disrupts male jobs more than it disrupts female jobs then increasingly it will be women who will become the main breadwinners the world over. How will such a world look different from the one we currently live in? Economist Heejung Chung and Professor of Politics Rosie Campbell who led the study cited above (on behalf of King’s College, London) give us a glimpse of how the world is about to change:
“”We do see a lot of signs of gender parity in certain areas,” Chung explains, and these younger individuals aren’t perhaps experiencing the wider inequality that many women still face today – leading to a view that some boys “are falling behind.”
Another reason for this division in attitudes towards equality could be that ideas around what masculinity represents are changing…Rosie Campbell, a professor of politics also at King’s College London…advocates for more open conversations with young people, especially at school, about what the terms feminism and masculinity mean. “We need to think more about how we communicate to young men about what it is to be a man today, and what kind of role models they have,” she says. This is especially important when considering the increasing misogynistic influences online, as portrayed recently on the Netflix drama Adolescence.
…There is also a small but growing body of research that shows men are changing their understanding of masculinity and fatherhood, to one that involves caring, empathy and other softer skills that are typically deemed feminine – as opposed to assuming manhood means earning more to look after your family. This has since been dubbed “caring masculinities”.
“It’s not just about men doing that fun stuff that’s really rewarded. It’s about them getting into those kinds of messy, gritty parts of care-work”, says Karla Elliott, a gender scholar from Monash University in Melbourne, Australia. Her work shows that taking on more of these practical caring tasks leads to a more nurturing disposition. Elliott explains that for this new conception of masculinity to spread, as well as taking on more care, men also need to disavow domination and inequality.”
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Note: The above material is neither investment research, nor financial advice. Marcellus does not seek payment for or business from this publication in any shape or form. The information provided is intended for educational purposes only. Marcellus Investment Managers is regulated by the Securities and Exchange Board of India (SEBI) and is also an FME (Non-Retail) with the International Financial Services Centres Authority (IFSCA) as a provider of Portfolio Management Services. Additionally, Marcellus is also registered with US Securities and Exchange Commission (“US SEC”) as an Investment Advisor.
