How to share public money fairly | Maja Bosnic

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Business, Modupe Akinola, Ted Business Podcast, Business Leadership Podcast, Ted Talks Business, Ted Modupe, Ted Talks

4 • 1.2K Ratings

🗓️ 5 June 2023

⏱️ 17 minutes

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Summary

"We have the right to demand budgets to be equitable, to be fair," says economist Maja Bosnic. And one of the places where public money often falls short is being inclusive of gender and sex, furthering discrimination. Using examples from around the world that already factor gender into public finance decisions, Bosnic shares how budgets that actively account for gender don't just lead to equality -- they're also more efficient and effective. After the talk, Modupe shares simple yet crucial ways to make sure no one is overlooked in organizational processes.

Transcript

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0:00.0	I've been at Columbia University for over 13 years. And in that time, we've created different
0:14.7	working groups, task forces, committees to address the needs of many of the university's
0:21.5	constituents. A few years ago, a working group was created to focus on the needs of staff.
0:30.2	Now, staff members at a university are the backbone of what we as faculty and students do.
0:39.0	Staff are folks who support faculty, the deans, students, help fund raise, manage food services,
0:46.8	do janitorial work, and so much more. You know the wonderful people I'm talking about.
0:53.1	While this working group noticed pretty quickly that Columbia's mission statement actually didn't
1:00.9	mention staff. Students and faculty were included, but staff, these vital employees, over 18,000 of
1:10.2	them, were left out of the school's mission statement. The working group led the charge for an
1:16.5	updated version of Columbia's mission statement, which was later implemented. But this crucial
1:23.0	omission is an important reminder of how we can lose our focus and exclude key constituencies
1:31.0	that really make a difference in our organizations. So how can we ensure that key groups don't fall
1:38.9	off our radar? I'm Madupe Akinola. This is Ted Business. Our speaker today is economist
1:50.0	Maja Bosnick. In this talk, Maja explains how we need to actively think about key populations
1:58.4	in processes like budgeting. Budgeting is not just about allocating money. It's also about
2:05.0	understanding who gets impacted in the things we budget for. And oftentimes, budgets impact women
2:12.7	in ways we don't expect. Then after the talk, I'll share more insights on how to ensure key
2:19.5	constituents like minoritized groups aren't overlooked in our organizational processes. But first,
2:27.5	a quick break. So I come from Bosnia. I mean, I live in Sweden now, but you don't need to know my
2:39.4	whole life story. But the story that I do want to share is from my home country. So close to 50%
2:47.8	of the land in Bosnia is dedicated to agriculture and farming. So the government decides to support
2:54.9	farmers to set up the budget, to set up the requirements for the people to receive the budget
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