Neoliberalism and the Global Economic Crisis: a View from Feminist Economics

The financial crisis that surfaced in 2008 in the US financial sector became very rapidly an economic crisis that spread globally and affected many countries. It has become a major focus of attention and concern, particularly in Europe where it has been felt deeply — but also in the US and globally. This chapter is a reflection of its origins, effects and policies from a gender perspective. Although the analysis is based mostly on the European experience — with empirical references particularly to Spain — it presents a feminist economics perspective that tends to be ignored in most analysis and debates on the subject. Although not dealing directly with issues of development, an effort is made to compare it with the debt crisis and Structural Adjustment Policies (SAPs) that many developing countries experienced in the 1980s and 1990s. The first part of the chapter presents a brief overview of the main features of feminist economics relevant to the analysis of the crisis, the second focuses more squarely on the crisis itself, its consequences, and the austerity policies followed to deal with it. The chapter presents a critique of these policies and it suggests alternatives compatible with a feminist perspective.