Can Women Save America's Economy

This is the question being asked by some enlightened economists and publications, including CNN International in a 2009 article dated 26, October.

It is well documented that women are the largest economic force in the world and they are growing everyday. Their buying power is expected to reach nearly 18 trillion by 2014 according to an article written by Kevin Voigt of CNN.

In the United States, the gains may have been due much in fact from the Women's Business Ownership Act. It is a piece of legislation that was enacted twenty years ago to provide women with the opportunity to take part in the trials and tribulations of business ownership. Apparently, the ladies are enjoying showing that they are at least as good at sharpening pencils and brewing coffee as they are defining and reaching company goals.

When former President Ronald Reagansigned the act into law, women were in many cases at a disadvantage because banks and other lenders gave preferential treatment to male business owners.

With the act, the page was turned on this bias practice and businesswomen in America haven't looked back.

But it has not been all strawberries and cream for America's female CEO's. They have faced the same challenges as male business owners and suffered from everything from the market meltdown to the economic freeze caused by 911. Through it all, they have come through the dust as winners and are in a position to make their mark as the future dynasty.

There are 8 million businesses in the US with a female majority ownership (51% or above) according to The Center For Women's Research.

This means that women are taking a very large bite of the apple now and an even larger bite in 2014 when it is expected to reach the $18 trillion level globally, which is a $5 trillion increase from their present mark.

Truly women have power but can that growing power change the direction of American or World economic growth?

Put it this way, the "Old Girl Network" cannot possibly do worse to our nation and world as the "Old Boy Network" already has. Stand aside guys, it's ladies night.