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Why Women Should Seek Money and Power

Throughout my website I have included the phrase “Women + Money = Power”. Upon reflection, the word power can be taken in a lot of different ways so I want to ensure I am clear in my meaning.

Many people, specifically women and BIPOC people, may have a negative reaction to the word power. In our society power is often construed as “power over” and power has been used to curtail the rights of those in a down power position (those with less/no power). We associate the boss with the power to make you work late or the parent with the power to send you to bed early.

Personally, this is not a power I seek. I have no desire to dominate others. If you are reading this then it’s likely you feel the same.

The power I seek for myself and for all people is a “power to.” When I look in the thesaurus the synonyms that call to me are potential, ability, and capacity. I believe that most people desire power using that definition. We want the ability to care for ourselves and our loved ones. We want the potential to live our lives to the fullest. We want the capacity to make a positive impact.

In our capitalist society money and power are closely linked. Basic survival requires money. Even the most basic pleasures generally require some amount of money. When you are struggling for enough money to live you are not a threat to those in the up power position. In this way the wealth disparities of capitalism easily lead to systems of oppression.

In western cultures women and people of color have traditionally lacked power. Without money it is hard to change the power structure. Politicians make and enforce laws. It takes a substantial amount of money to get elected requiring politicians to have either their own money or the backing of those with money. The result is that those with money are making and enforcing the laws.

Additionally, money begets money. If you have money you can help your children to get a more prestigious education or more lucrative job. The US tax laws are frequently established to benefit those with money. (Why is it that we pay a higher tax rate for passive income than for the income we actually work for?) Predatory lending practices, longer (unpaid) commute times, and fixed rate fines are some more examples of ways that not having money actually costs you money.

Currently women and BIPOC people are under-served by the financial industry. By improving access to these marginalized groups we are increasing their money and, therefore, their power. My specific area of specialty is working with women, hence my tag line. It could just as easily be said though that BIPOC People + Money = Power.

If money brings about both more money and power then to change the power dynamic in this country it is fundamental that we change the money dynamic. The resulting power can than be leveraged to create systems of justice.

Maura Madden is a registered investment adviser in the State of Washington. The Adviser may not transact business in states where it is not appropriately registered, excluded or exempted from registration. Individualized responses to persons that involve either the effecting of transaction in securities, or the rendering of personalized investment advice for compensation, will not be made without registration or exemption.