Page 22 - CSA Speaker Bulletin September 2016 | CSA Celebrity Speakers

WOMAN POWER

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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