Page 22 - CSA Speaker Bulletin September 2016 | CSA Celebrity Speakers
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     Woman Power
           in 2016

Today two of the world’s largest economies and two of the most important financial institutions are being run by
women. Germany’s Angela Merkel, the UK’s Theresa May, along with Christine Lagarde of the IMF and Janet Yellen
of the US Federal Reserve. Later this year there is also the prospect of Hillary Clinton running the US and, until her
withdrawal from the race, of Christiana Figueres to have taken over from Ban Ki-moon at the United Nations.

This is in addition to the numerous women leaders in the top business, tech and media companies throughout the
world. Is this a game-changer taking place? A wealth of global studies show that organisations perform better
when there is a mix of men and women in charge and indeed part of the reason organisations do better with more
women in leadership roles is that women manage differently and bring certain qualities that men possess less often.
This is borne out by Ray Hammond’s article on page 22.

Dambisa Moyo, leading global                      income inequality is growing because      the world have more wealth than the
economist, author and investor in                 of the erosion of social mobility. We as  bottom half of the world’s population—
the future, was originally a banker               economists and public policymakers        income inequality has increased for
at the World Bank and then Goldman                know that income inequality has been      many countries around the world.
Sachs. Ms Moyo now analyses the                   an issue from time immemorial. The        Particularly developed countries.
macroeconomy and international                    difference now is in the expectation
affairs. In a recent TED talk she                 of being able to deal with it. We were    OZY What are some of
discussed bringing together different             once quite optimistic that when people                           the best policies to
models to foster economic growth.                 were able to get an education, get a      increase social mobility and reduce
                                                  job and therefore get a higher income,    income inequality?
Ms Moyo recently spoke                            that would close the income gap.
to OZY, a global magazine                                                                   DM I would frame it as needing
that delivers cutting edge                        But we’ve seen a significant erosion                        to separate short-term
viewpoints, about inequality,                     in social mobility. For example, if you   interventions versus long-term
from race to gender. Here is                      were born into a household below the      interventions. It behooves and is
an extract:                                       bottom 25th percentile of income, your    advantageous for society to ensure
                                                  chances of ending up in the top 25        that every member of society is living
OZY Why is income                                 percent have halved — in just the past    at some basic level of income. The
                       inequality worsening       30 years. So those types of statistics    public policy interventions there tend
in the United States? It’s a complex              are quite disconcerting. And it is worth  to be around transfers and minimum
issue, of course, but what major                  pointing out that this is not just about  wages. But longer term, you need to
trends do you think have widened                  the United States.                        invest in education and infrastructure.
the gap?                                                                                    And here, in the U.S. in particular,
                                                  This is a global phenomenon, though.      there has been an underinvestment in
DM It’s a terrific question. I                    Even apart from the wealth gap —          quality education. Read more. n
                  believe that at its very core,  today, the 62 wealthiest people in

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