Gender Equality Is Just Smart Economics According To The World Bank
A new World Bank study released this week is basically advising that by creating better opportunities for women everywhere, the world will be a better place. It found that gross domestic product per capita and gender equality are positively correlated. As for productivity, output per worker would rise by up to 25% in many countries if barriers were removed that prevent women from working in certain occupations or sectors. “Gender equality is smart economics,” the 452-page report says.
Boosting women’s status and giving them the same access to education and economic opportunities increases productivity and the economic efficiency of a country, it says. “Blocking women and girls from getting the skills and earnings to succeed in a globalized world is not only wrong, but also economically harmful,” said Justin Yifu Lin, the World Bank’s chief economist.The study has many amazing findings including examples of major progress in countries Bangladesh and Colombia, that have narrowed the gender gap with higher school enrollment, lower fertility rates and boosted labor market participation. What I found the most interesting was that it took the U.S. 40 years to achieve in increasing girls’ school enrollment, for example, has taken Morocco just 10 years.
Slate and The Atlantic writer Hannah Rosin said:Photo: Robyn Mackenzie/Shutterstock.comMen have been at this for 40,000 years. Women have been rising for something like 30 or 40 years. So of course women haven’t occupied every single [high-powered] position. How would that be possible? The rise of women is barely a generation old. But if you look at everything else, like the median, the big bulge in the middle, it’s just unbelievable what has happened: Women are more than 50% of the workforce, and they’re more than 50% of managers. It’s just extraordinary that that’s happened in basically one generation. It seems like whatever it is that this economy is demanding, whatever special ingredients, women just have them more than men do.
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