The paradigm of macroeconomics, and the notions of aggregate supply and demand, in particular, serve as the drivers for the emergence of specific economic trends, competition in the market, and pricing patterns. However, when considering the fact that the aggregate demand and supply usually focus on the average supply curve and customers’ demand for a specific product, it becomes evident that some of the trends remain rather unethical in terms of inclusion.
Thus, in one of the latest episodes of NPR’s Planet Money audio podcast, I have discovered that women whose ability to start a business is now stronger than ever before still struggle with retaining business and competing with men-owned large enterprises in the designated markets (Aronczyk & Smith, 2021). The two primary reasons for such a problem include financial challenges and the phenomenon of “crying babies,” which stands for the stigmatization of women’s productivity related to childcare.
Although not a revelation for me, I was surprised to learn how the current patterns of aggregate supply and demand are primarily created to benefit and impact the profitability of large corporations. Indeed, while customers generate the demand for reasonably priced goods, the demand for goods generated by the local business, who spend more effort and money on custom production, remains undermined. However, while a significant part of local business is run by women, the ignorance of their supply eventually leads to the limited women’s opportunity to enter the primary competition in the aggregate supply chain.
Hence, after listening to this episode, I believe that the overall concept of macroeconomics and aggregate supply and demand is limited and generic, impacting the overall allocation of economic opportunities among the state demographic. For this reason, it is imperative for the governments to present a system of equal access to macroeconomics for businesses by introducing such policies as support for women-operated small enterprises and free childcare.
Reference
Aronczyk, A., & Smith, S. V. (Hosts). (2021). Planet Money. Two indicators: Women and work. NPR. Web.