Monday, February 2, 2009

Can we blame the recession on men?

There's an economic summit going on right now full of financial leaders from all over the world. The other day, they were asked a question: would this have happened if women had been in charge?

4 comments:

Anonymous said...

I actually found this article quite amusing. Even though many females and possibly some men might agree that we wouldn't be in this mess today if women had shaped the financial practices rather than men, I don't exactly agree. I don't think you can blame men as a whole for the recession, but it should be blamed on those who took blind risks, regardless of their gender. I was slightly disappointed by how few women in finance. Among the 80 high profile attendants at the private session of finance officials, regulators, and bankers, only 6 of them were women. I agreed with the quote at the end of the article that says, "Ideally it will be the Lehman Brothers and Sisters." I don't think women should take the place of men in shaping the financial practices, but that both men and women should work together to balance each other out.

Anonymous said...

I don’t necessarily agree with the entire content of this article. I don’t see how an entire sex can be blamed for the economic problems. It isn’t entirely their fault, it’s a joint effort among all people; the reasoning that the economic crisis can be related to the risk-taking of certain individuals is pretty unreasonable to me. Had the market been controlled more by women, I do wonder what state we would be in. However even if women were in charge, I don’t think all that much would really be different. I’m sure we’d still be in the same downfall that we’re already currently facing.

SOCI49 Diaz said...

I believe that the article “Talking Banks and Sex” presented a very interesting point. I do not believe that everything would be perfect if more women had controlled the economy, but I do believe our economy would NOT be in the terrible state in which it is now. I had never really thought about it, but upon reflection, woman would have been more responsible with our money. I thought it was funny that many male participants in the World Economic Forum acted defensively because there is no need to act this over sensitively unless one at least believes the accusations have some truth behind them! Hmmm…might their attitude mean something? Although the article had a hint of humor, I found it very offensive when a senior finance official said that “women would never have come up with all those sophisticated tools…” What??? I found it hard to fathom why this inequality still exists.

Women are definitely more cautious and would not have encouraged the gambling culture we have today. I truly believe women would not have taken the huge risks that made our economy hit rock-bottom. The article also reinforce my pride in being a woman…I mean, this is science!!! Testosterone helped fail the financial system, but females (since they are less ego-driven) are more responsible than males!

I was also sad that there are only a few banking chiefs. I think I have been living in this world where woman can do anything and I have the mind set that I can achieve anything, and that mindset will still be there, but I have become aware that getting there (especially in a job) will be more difficult. Although woman have achieved a lot, we still have a long way to go.

- Aislinn

Anonymous said...

I was surprised that this question was asked at such a high profile meeting. It is depressing to see that out of 80 attendees only six of them were women. I found the article to be very entertaining I do not think that the economy is ruined just becuase the people in charge were men. One has to take into account, individual tendencies and personalities. I was upset by the reaction of one of the delegates though. This shows that even though today's world likes to think it offers equal opportunities to men and women, it does not. Many men in high positions still have a very sexist mindset. Overall, I believe that the recession should not be blamed on the men becuase of their gender but becuase of the decisions that were made.

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