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156 sats \ 2 replies \ @Undisciplined 8h \ parent \ on: Russia’s Wartime economy explained econ
Are more women taking paid jobs during the war (as opposed to working in the home)?
That was one of the ways GDP numbers got really out of whack during WWII. It wasn't that women were doing a lot more work, they were just switching to the kind of work that counts towards GDP and the really sick part is that the jobs they switched into were probably less productive than what they had been doing.
I don't think it's affecting the number of women in the workforce much, most Russians are dual-income households these days like in the West. But they have the GDP work issue too yes, people are flocking to more to military/war adjacent jobs because that's where the money is.
So you can make some silly money sewing camouflage nets, putting drones together etc but non-war industries or jobs can't afford those high wages, and they're (naturally) complaining about the central bank killing them with the high rates.
The head of the central bank refuses to budge because she doesn't want inflation going crazy.
Russian banks are also paying super-high interest rates on deposits too , upwards of 15% sometimes which is also changing incentives since people think why invest or do anything when I can just park this money in the bank 'risk-free' and get 15% for doing nothing.
There are all kinds of weird market distortions going on.
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Thanks
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