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The right to abortion is an economic right.

The overturning of Roe v. Wade has exacerbated the deterioration of public health and the economy in the United States.

In a strongly worded dissent, the three liberal justices of the U.S. Supreme Court pointed out that the decision by the six conservative justices to overturn Roe v. Wade and leave abortion laws entirely to individual states reduces women’s 'opportunities to fully and equally participate in the nation's political, social, and economic life,' and women will pay a heavy price for this. This dissent delves into the impact on the U.S. economy following the overturning of Roe v. Wade.

Dissenting Justices Sonia Sotomayor, Elena Kagan, and Stephen Breyer opposed the legal reasoning behind the majority of the court overturning Roe v. Wade, while sharply criticizing the consequences of this decision, particularly its impact on low-income women.

The three judges pointed out that the ruling's statement of 'leaving the decision on abortion rights to individual states' offers little comfort to women who cannot afford to buy plane tickets to undergo surgery in another state. Most importantly, women lacking economic resources will suffer due to this decision. They stated, 'From now on, young women reaching adulthood will have fewer rights than their mothers and grandmothers.'

They also noted that women at different wealth levels are affected differently. 'Some financially better-off women can circumvent this ruling, but those with poor economic conditions, without access to childcare benefits or the ability to take leave, are not as fortunate.'

The three judges highlighted that these women may resort to unsafe abortion procedures or choose to keep the child, 'but at a significant personal or family cost, including losing control over their own lives.' Given issues such as pregnancy discrimination in the workplace and insufficient paid leave in the United States, women choosing to keep their children will have to raise them in such an environment, especially those with lower incomes.

According to the Brookings Institution, a think tank based in Washington, D.C., the rate of unintended pregnancies among women living below the poverty line is five times higher than that of more affluent women (those earning 400% above the poverty line). Additionally, the three judges noted, 'Nearly half of the women seeking abortion care come from families below the poverty line.'

The Brookings Institution pointed out that in 2019, the Centers for Disease Control and Prevention (CDC) received reports of nearly 630,000 legal induced abortions, with CDC data showing that the vast majority occurred during early pregnancy, within the first 13 weeks.

According to researchers from the Advancing New Standards in Reproductive Health program at the University of California, San Francisco, the median out-of-pocket cost for medication abortions in 2021 was $568, early-term surgical abortions cost $625, and second-trimester surgical abortions cost $775.

In the months leading up to last Friday’s ruling, economists submitted documents to the court outlining the link between access to abortion and women’s financial well-being.

They noted that one study found that the chances of women in the sample completing a college education increased by approximately 20%, while the likelihood of obtaining professional positions rose by about 40%.

Another study examined the economic situation of women who were denied abortions. Researchers found that past-due debt increased by 78%, and public records related to bankruptcy, eviction, and court judgments rose by 81%.

Anti-abortion advocates argue that such economic arguments are exaggerated and selectively presented. Marjorie Dannenfelser, president of the anti-abortion organization Susan B. Anthony Pro-Life America, said last Friday, 'Today marks a historic human rights victory for unborn children and their mothers, as well as a bright future for the pro-life movement in America.'

Dan Nanfelsa also said, 'A completely new anti-abortion movement begins today. We are ready to launch an offensive in every legislature, every state parliament, and the White House. In the coming years, we have the opportunity to save hundreds of thousands, or even millions, of lives by restricting abortion in multiple states.'

On the other side of the intense debate, abortion rights supporters also addressed the economic loss arguments made by the three judges. U.S. President Joe Biden described June 24 as 'a sad day for the Supreme Court and America,' noting that abortion bans had already taken effect in several states due to 'trigger laws' predicated on overturning Roe v. Wade.

Biden said, 'Typically, low-income women will bear the brunt of the impact.'

Heidi Shierholz, head of the left-leaning Economic Policy Institute, stated last Friday, 'Abortion rights are an economic right. The Supreme Court's decision means that women seeking abortions have lost their financial security, independence, and mobility in terms of housing, social class, and career opportunities. Middle- and low-income groups will be the most affected.'

'Reproductive rights are workers' rights, and reproductive justice is economic justice,' said Lee Saunders, president of the American Federation of State, County & Municipal Employees, which has 1.4 million members. 'The decision of when and whether to have children is critical to being able to engage in self-sustaining work.'

Gary Cunningham, CEO of the non-profit Prosperity Now, said, 'This decision by the Supreme Court poses a clear and immediate threat to the well-being, financial stability, and economic future of women and families across the United States. It exacerbates the deterioration of the U.S. public health and economic systems, and those without wealth and with limited opportunities will be hit hardest by this ruling.'

By Andrew Keshner

Edited by Guo Liqun

Original article from Barron's (barronschina). Reproduction prohibited without permission. See the MarketWatch report 'Women lacking financial resources will suffer: Dissenting Supreme Court justices paint bleak picture for low-income women seeking abortions in post-Roe America,' published on June 26, 2022, for the English version.

(The content of this article is for reference only and does not represent the inclination of investment advice by Barron's; the market involves risks, and investments must be made with caution.)

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