Why Feminism Might Be The Best Thing That Ever Happen to an Economy and Countries That Oppressed Women Will Be Left Behind….
Consumer Always Wins
We tend to hear that the American consumers are the driving force of the economy. Hardcore Keynesian economists believed that the world have to spend their way out of this crisis. In a sense it is true, the world will only move when there is trade, and there will only be trades if there is consumption, and there will only be consumption if the consumers are willing to spend (with their own money, to be safe).
But who are the ones dictating the spending? An estimation shows that women control about 65%* of global spending and almost 80% of American spending, which happen to be the largest consumer market at the moment. Collectively, they control about US$20 trillion of the global consumption. Yes, with a “T”!
In a world where some countries are still oppressing women and women in almost all developed nation earn lesser than their males peers, women are indirectly controlling the world’s trades. Imagine the day when women can enjoy the same liberty in all over the world. Imagine the day where all women have the ability and opportunity to earn a living on their own rights (Not just in developed and emerging nations) which can greatly increase their disposable income, the impact that might have on the economy.
Wise Words From Gates
Bill Gates once told a group of students in a Saudi Arabia University lecture that if they are ignoring half of their potential workforce and talents, they will never be able to catch up in their innovation and their economy. Ben Bernanke and Tim Geithner are busying saving the world economy, trying all type of tricks in their bag. Maybe what they should have done is to ask their wives for help.
*All statistics are averages from various sources and may be inaccurate.
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The information provided is for general information purposes only and is not intended to be any investment or financial advice. All views and opinions articulated in the article were expressed in Stanley Lim’s personal capacity and do not in any way represent those of his employer and other related entities. Stanley Lim doesn’t own shares in any companies mentioned above.
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