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A Friend Stopped By | 10/13/2009 2:00 pm

The Real Significance of Elinor Ostrom's Moment in Nobel History, by Shelby White

By Shelby White
© Chris Meyer/Indiana University

Editor’s Note: Shelby White is a New York-based writer whose work has appeared in Barron’s, The New York Times and Forbes. She is the author of What Every Woman Should Know About Her Husband’s Money, published by Random House in 1992.

Was Larry Summers right? Just four years ago, the then-president of Harvard made his famous remark that innate differences between men and women might be one reason fewer women succeed in science and math careers. And now we have Elinor Ostrom, the first woman to receive the Nobel Prize for Economics. But wait — Dr. Ostrom is, in fact, not a mathematician; she is a social scientist. And, according to some, her achievement signifies a move in economics away from hard science to a more interdisciplinary approach. 

But, for me, I didn’t need the Nobel committee to validate the changing role of women in economics and finance. This morning I attended a finance committee meeting of a board and realized that I was the only woman trustee — the other members were all men. Across the table sat the CFO, the Comptroller and the Chief Investment Officer: They were all women. 

6 Reader Comments (so far…) Sign In or Register to comment

F P
Technically what Ms. Ostrom won was not the Nobel Prize in Economics but the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
By F P on 10/13/2009 1:17 pm
Belinda Joy
Shelby, was the last sentence a mistake or am I simply not reading it correctly? Was it to read, They were all men.
By Belinda Joy on 10/13/2009 4:29 pm
Lila Kuh

Belinda,

I think the sentence is correct.  She notes that while all the trustees (except herself) were all men, the company’s financial officers were all women… thus validating her view that the times, they are a-changin’.

By Lila Kuh on 10/13/2009 6:22 pm
Belinda Joy

Oh….I see!  I swear, I don’t consider myself a dummy, but I read that over and over and could not make sense of it Lila.

Thanks for clarifying it for me, now it does indeed makes sense.

By Belinda Joy on 10/13/2009 6:29 pm
margaret carne
Actually Belinda, that’s how most people would have read it at first, because that is what we have been socialized to expect & therefore to hear.
By margaret carne on 10/13/2009 7:51 pm
Nancy Dickinson

This was a cute story but I’d just like to point out that the Trustees are the ones in power, so we still have a ways to go.  The Treasury Sec’y is a man; Lloyd Blumenfeld (head of Goldman Sachs) is a man. 

Let’s keep at it, ladies, we have a ways to go still.

By Nancy Dickinson on 10/13/2009 8:19 pm