Friday, 16 August 2013

10 female Keynesian economists + 10 male Keynesian economists = 20 Keynesian economists

By Philip Booth

On becoming governor of the Bank of England, Mark Carney made some statements about women which were somewhat intriguing. He argued that: ‘It is anomalous, it’s striking. What we have to do at the Bank of England is grow top female economists all the way through the ranks. That adds to the diversity in macro-economic thinking…’

Why? If we replace (for example) ten male economists with ten female economists in a group of 30 economists, what leads Carney to expect more diversity in macro-economic thinking? Surely, there can only be two reasons – that Carney believes that there are intrinsic differences between the ways in which men and women reason and assess evidence or that their social experiences are different from those of men who have similar career patterns. This is essentially the reasoning that contributed to Larry Summers resigning from Harvard University as well as him not getting the job as Obama’s Treasury Secretary. I wonder why Osborne and Cameron are not hauling Carney in for a dressing down.

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