Our economies need to thrive, and that can only happen when we reach and empower those who need it most.

 

Slavery was brought to an end in the British empire after a law was passed in 1834. Women in the USA started making their way into paid work after homes were electrified in the 1950s. Although many groups in our society now have more equal opportunities to take responsibility for their lives and improve their circumstances, lesbian, gay, bisexual, and transgender (LGBT) individuals in many countries face legal, social and economic challenges not experienced by non-LGBT people. In many countries, LGBT rights are generally infringed upon and homosexuality is illegal and punishable by years in prison or death.

 

Whether the answer lies in changing a law, changing something physical in the environment, or changing social perception. We need to understand these dynamics in order to foster more inclusive economies.

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The Institute for Queer Economics believes in fostering an economically healthy LGBTQ+ community and making it easier for governments and organizations to better serve the needs of this community.

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The field of Queer Economics studies the intersection of economics and LGBTQ+ issues. It seeks to analyze how economic systems and policies can impact LGBTQ+ individuals and communities.

 

The field emerged in the early 2000s as scholars began to explore the economic experiences of LGBTQIA+ individuals and communities. One of the earliest and most influential works in queer economics was a 2001 article by M.V. Lee Badgett, an economist and LGBTQIA advocate, titled “Money, Myths, and Change: The Economic Lives of Lesbians and Gay men.” In this article, Badgett challenged the traditional economic assumption that individuals are rational, self-interested actors and argued that this assumption did not account for the experiences of LGBTQ+ people.

 

In 2005, the first conference on queer economics was held at the University of California, Berkeley, bringing together scholars from a range of disciplines to discuss the emerging field.

 

Since then, queer economics has continued to grow, with scholars exploring a variety of topics related to LGBTQ+ economics and advocating for more inclusive economic policies and practices. While still a relatively new field, queer economics has the potential to make important contributions to both economics in general and engage in useful empirical research.

 

Some of the most well-known research areas of queer economics include:

 

1. LGBTQ+ entrepreneurship: This explores the experiences of queer entrepreneurs, including the challenges and opportunities they face and the economic impact of queer-owned businesses.

2. The economics of queer family formation: This examines the economic implications of queer individuals forming families, including the costs of adoption and surrogacy.

3. The economic impact of LGBTQ+ discrimination: This includes discrimination in employment, housing, and other areas, including the cost of lost wages and lost productivity.

4. The economics of queer aging: This research area looks at the economic challenges faced by LGBTQ+ individuals as they age, including retirement planning, care, healthcare costs, and housing options.

5. The intersectionality of queer economics: Queer economists are increasingly examining how issues related to race, gender, and other identities intersect with LGBTQ+ economics, and how these intersections affect economic outcomes.

 

All of this new research is showing us how growth is not enough, not when people of a certain race, gender or sexual orientation are excluded.

 

Overall, queer economics seeks to broaden the scope of traditional economics to better account for the experiences of LGBTQ+ individuals and to propose policies and solutions that are more inclusive and equitable, all with the aim of helping economies to live up to their potential.