Here’s something interesting to think about: are the arrangements of chromosomes to blame for this rut of a global crisis that we are currently struggling to stay afloat in, or is it just mere coincidence?
Ros Atkins highlighted some very keen observations in his article titled “Could Women Have Saved Us from the Financial Crisis?” According to Atkins, a quick look at who is boss in the political, corporate, and social arena would tell us that key positions in business, politics, and society are usually testosterone-packed.
The majority of CEOs in the developed and in the developing world are men. Women, especially in developing countries are greatly under-represented in the political arena. Men continue to be regarded as the heads of the family, the providers, and the decision-makers.
According to a study conducted by the Asian Development Bank a few years back, a whopping 90% of Grameen Bank borrowers are women, and many of them pay back their loans at rates any mainstream financial institution would envy. Indeed, it does not take a rocket scientist to say that men and women are wired rather differently, especially when it comes to dealing with money matters.
Several studies have shown that women are more careful and are very nitty-gritty when it comes to budgeting finances and ensuring that the balance sheet ends up in equilibrium. Men, on the other hand, easily gravitate to riskier matters and sporadic expenses.
So, if women had been put in-charge, would things have turned out differently? Just a thought.