Challenging the Historical Narrative

For decades, influential thinkers from Friedrich Engels to Silvia Federici have argued that the rise of capitalism coincided with, and even caused, the economic subjugation of women. This view often paints a romanticized picture of pre-capitalist societies where women supposedly enjoyed greater economic security and respect. Even the horrific witch trials of the past have been attributed to the pressures of a burgeoning commercial system. However, this interpretation fundamentally misdiagnoses the root cause of women’s historical economic marginalization.

As detailed in Economica: A Global History of Women, Wealth & Power, the true culprits were not market forces, but the deliberate actions of male-dominated collectives. These groups actively sought to exclude women from lucrative trades and professions, effectively limiting their economic opportunities. Conversely, the expansion of free markets often provided women with avenues for economic independence previously unavailable to them. Economica presents a compelling re-evaluation of this history.

Business Was Never ‘Just for Men’

The notion that the world of business has always been exclusively male is a myth. For every prominent male entrepreneur, there existed a female counterpart possessing equal intelligence, drive, and innovation. History is replete with examples of successful female merchants and business owners, yet their stories have been systematically downplayed or ignored. This historical erasure fuels the anti-capitalist argument that the system inherently disadvantages women, a claim that simply doesn’t hold up under scrutiny.

Why have these women been largely absent from the historical record? The reasons are complex, but the result is a distorted perception of the past. This distortion is frequently exploited to persuade women to embrace socialist ideologies, promising a more equitable system. But is a system that ignores women’s agency and achievements truly equitable?

Unearthing Forgotten Female Entrepreneurs

Digging into historical archives reveals a vibrant tapestry of female entrepreneurship. Eighteenth-century London, for instance, teemed with female-owned businesses. Business cards unearthed at the British Museum showcase women operating as shoemakers, toy makers, fan makers, tea sellers, and printers. These weren’t isolated cases; female-run businesses flourished on every street corner.

Even within the male-dominated world of banking, women like Priscilla Wakefield pioneered innovative financial solutions. In 1798, she established England’s first “penny savings bank” in Tottenham, specifically designed for women and children. The bank’s popularity was so immense that local men petitioned Wakefield to extend her services to them. This demonstrates a clear demand for accessible financial services, driven by women’s economic activity.

Contrary to the popular image of Georgian women as solely “tradwives,” evidence suggests a strong emphasis on female economic independence. A pamphlet from the era cautioned women against marrying men who couldn’t support them financially, highlighting the importance of a woman’s ability to contribute to the household income. Georgian women were far more than just housewives.

The Victorian Backlash and the Rise of Collectives

The Victorian era, marked by the Industrial Revolution, witnessed a shift in societal norms. While the era brought technological advancements, it also saw the rise of powerful trade unions. These unions, while advocating for workers’ rights, often did so at the expense of women. Male unionists recognized that excluding women from the workforce would reduce competition for jobs and increase wages for their members.

Through strikes and pressure tactics, unions successfully lobbied employers to stop hiring women. In 1808, hatters in Stockport secured a ban on female hat makers, followed by bookbinders in 1810. By 1820, cotton spinners in Glasgow and Manchester had implemented similar restrictions, and in Lancashire, male spinners even limited employment to relatives. This exclusionary practice wasn’t about protecting women; it was about protecting men’s livelihoods.

As one woman lamented in The Pioneer, “Surely the men might think of a better method of benefiting themselves than that of driving so many industrious women out of employment.” Yet, unions framed their actions as benevolent, claiming to protect women from exploitation and prevent the neglect of children – a convenient justification for self-serving policies.

While trade unionists laid waste to women’s employment in mills, workshops and factories, collectives of middle class men did the same when it came to office work.

The suppression of women’s economic opportunities wasn’t limited to manual labor. Middle-class men formed professional organizations that acted as gatekeepers to white-collar professions. These organizations, often granted Royal Charters, systematically excluded women until the Sex Disqualification (Removal) Act of 1919 finally outlawed such discrimination.

Global Parallels and the Power of Self-Employment

This pattern of exclusion continues to be observed in low-income countries today, where men often conspire to limit women’s access to formal employment. Consequently, a staggering 88% of working women in these countries are self-employed, compared to only 10% in high-income nations. In East Asia and South America, that figure rises to one in two businesses owned by women. This highlights the crucial role of entrepreneurship as a lifeline for women in some of the world’s poorest regions.

Markets, with their freedom to trade and innovate, often provide women with the only viable path to economic survival. Entrepreneurship isn’t a male domain; it’s a fundamental human drive. It’s time to challenge the leftist narrative that blames capitalism for historical injustices and recognize the true enemy of women’s economic empowerment: the collective.

What role can governments play in fostering a more inclusive economic environment for women? And how can we ensure that future generations understand the true history of women in business?

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