The global economic crisis, its gender and ethnic implications, and policy responses

The global financial crisis that began in 2008 has resulted in the widespread destruction of jobs and livelihoods. Among the factors that precipitated the crisis, growing inequality both within and between countries contributed to low levels of aggregate demand and the reliance of low-income households on unsustainable borrowing to maintain living standards. The crisis provides the opportunity to rethink macroeconomic policy, and for feminist economists to advance proposals that promote jobs, economic security, and equality by class, gender, and ethnicity. Reviving the global economy will require policies that focus heavily on job creation, putting money into the hands of low- and middle-income households.