ABSTRACT
The gender gap, like the minority achievement gap, has lately become a hot topic. Women are underpaid, undervalued, and overworked across the board. But in our rational economy, what could explain the persistence of this phenomenon? A preferential demand for lower paid women should drive their salaries up until they reach the level of men’s. The logic seems impeccable, but it is not borne out by the facts.2 This article provides an explanation based on the coupling of two institutions: the family and the market. Families are about sharing and using commonproperty resources. Firms, instead, use private property to produce private goods, and maximize profits. As far as institutions go, the family and the market could not be further apart, yet they are undeniably intertwined. The way that each responds to the other is critical in understanding and resolving the unequal situation of women in our society.
