Thursday, October 15, 2009

Bank of England policymaker agrees with me

It is good to record that, months after my previous post (22nd February 2009) about the importance of having more women in top economic and financial positions, I now have agreement from an economist/banker.

The Guardian reports this morning that Charles Goodhart, a previous Bank of England policymaker, no less, who is now Professor Emeritus at the London School of Economics, no less, has said that ‘the worst financial crisis since the second world war could have been prevented if more women were on the boards of major companies. "Women tend to be more cautious and have a longer term outlook. I think that men can be more aggressive and prepared to take larger risks," he said. "There would have been less likelihood of the financial crisis if we had a larger number of female chief executives in the financial sector."

He said that there were "remarkably few" female chief executives in the financial sector and that it is "a great pity". "I think that the longer term and cautious tendency that women have and less of the alpha male would be beneficial."’

This echoes my words nicely…Thank you, Charles Goodhart. There is hope yet.

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