So far, the economic case for gender equality and female empowerment has gained stronger attention in the case of developing countries where women have far less rights and opportunities compared to developed ones. Hence, the grounds supporting gender equality have been much stronger and much more researched in the former. In developed countries, although there are still large differences in labour force participation, income and power, there is at least a growing equality in opportunity, making it less easy to analyse the existing gender inequality in terms of restrictions which need to be lifted in order to reach a fair and efficient division of work. This paper offers a review of the literature on the economics of gender equality by way of organising it along three propositions and two questions. This way it is possible to combine very different strands of literature, ranging from rather formal explorations within theoretical micro-economics, to more empirically oriented macro-economic research on economic growth, and rather heterodox contributions from feminist economics, illustrating the richness of the debate and the different positions that can be taken.