Editing Feminist economics (section)

===Well-being===
Many feminist economists argue economics should be focused less on mechanisms (like [[income]]) or theories (such as [[utilitarianism]]) and more on [[well-being]], a multidimensional concept including income, health, education, empowerment and social status.<ref name="berik"/><ref name="Power, Marilyn 2011"/> They argue that economic success can not be measured only by [[good (economics)|good]]s or [[gross domestic product]], but must also be measured by human well-being. Aggregate income is not sufficient to evaluate general well-being, because individual entitlements and needs must also be considered, leading feminist economists to study [[health]], longevity, access to [[property]], [[education]], and related factors.<ref name="intro" /><ref>{{cite journal|last=Hill|first=M. Anne|author2=King, Elizabeth|title=Women's education and economic well-being|journal=Feminist Economics|date=July 1995|volume=1|issue=2|pages=21–46|doi=10.1080/714042230}}</ref>

[[Bina Agarwal]] and Pradeep Panda illustrate that a woman's property status (such as owning a house or land) directly and significantly reduces her chances of experiencing [[domestic violence]], while [[employment]] makes little difference.<ref>{{cite journal|last1=Agarwal|first1=Bina|author2=Panda, Pradeep|author-link1=Bina Agarwal|title=Toward Freedom from Domestic Violence: The Neglected Obvious|journal=Journal of Human Development|date=November 2007|volume=8|issue=3|pages=359–388|doi=10.1080/14649880701462171|s2cid=28511073}}</ref> They argue that such [[immovable property]] increases women's [[self-esteem]], economic security, and strengthens their fall-back positions, enhancing their options and bargaining clout. They show that property ownership is an important contributor to women's economic well-being because it reduces their susceptibility to violence.

In order to measure well-being more generally, [[Amartya Sen]], [[Sakiko Fukuda-Parr]], and other feminist economists helped develop alternatives to [[Gross Domestic Product]], such as the [[Human Development Index]].<ref>{{cite journal|last=Fukuda-Parr|first=Sakiko|author-link=Sakiko Fukuda-Parr|title=The Human Development Paradigm: Operationalizing Sen's Ideas on Capabilities |journal=Feminist Economics|date=January 2003|volume=9|issue=2–3|pages=301–317|doi=10.1080/1354570022000077980|s2cid=18178004}}</ref> Other models of interest to feminist economists include the [[labor theory of value]], which was most thoroughly developed in ''Das Kapital'' by [[Karl Marx]]. That model considers production as a socially constructed human project and redefines wages as means to earning a living. This refocuses economic models on human innate desires and needs as opposed to monetary incentives.<ref name="Power, Marilyn 2011"/>

====Human capabilities approach====
{{main|Capabilities approach}}

Economists [[Amartya Sen]] and Philosopher [[Martha Nussbaum]] created the [[capabilities approach|human capabilities approach]] as an alternative way to assess economic success rooted in the ideas of [[welfare economics]] and focused on the individual's potential to do and be what he or she may choose to value.<ref>{{cite book | last1 = Nussbaum | first1 = Martha | last2 = Sen | first2 = Amartya | author-link1 = Martha Nussbaum | author2-link = Amartya Sen | title = The Quality of life | publisher = Clarendon Press Oxford University Press | location=Oxford England New York | year=1993|isbn=9780198287971 }}</ref><ref>{{cite book | last = Alkire | first = Sabina | author-link = Sabina Alkire | title = Valuing freedoms: Sen's capability approach and poverty reduction | publisher = Oxford University Press | location = Oxford New York | year = 2005 | isbn = 9780199283316 }}</ref><ref>{{cite journal|last=Sen|first=Amartya|author-link=Amartya Sen|title=Development as Capability Expansion|journal=Journal of Development Planning|year=1989|volume=19|pages=41–58|url=http://tek.bke.hu/regikorok/sen/docs/development.pdf}}{{dead link|date=December 2017 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> Unlike traditional economic measures of success, focused on [[GDP]], [[utility]], [[income]], [[asset]]s or other monetary measures, the capabilities approach focuses on what individuals are able to do. This approach emphasizes processes as well as outcomes, and draws attention to cultural, social and material dynamics of well-being. [[Martha Nussbaum]], expanded on the model with a more complete list of central capabilities including life, health, bodily integrity, thought, and more.<ref name="nussbaum">{{cite book | last = Nussbaum | first = Martha|author-link=Martha Nussbaum | title = Creating capabilities: the human development approach | publisher = The Belknap Press of Harvard University Press | location = Cambridge, Massachusetts | year = 2013 | isbn = 9780674072350 }}</ref><ref>{{cite journal|last=Nussbaum|first=Martha|author-link=Martha Nussbaum|title=Capabilities as Fundamental Entitlements: Sen and Social Justice |journal=Feminist Economics|date=January 2003|volume=9|issue=2–3 |pages=33–59 |doi=10.1080/1354570022000077926 |citeseerx=10.1.1.541.3425|s2cid=145798740}}</ref> In recent years, the capabilities approach has influenced the creation of new models including the UN's [[Human Development Index]] (HDI).