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Would Women Leaders Have Prevented the Global Financial Crisis? Implications for Teaching about Gender, Behavior, and Economics

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  • Julie A. Nelson

Abstract

Would having more women in leadership have prevented the financial crisis? This question may arise in courses on Gender and Economics, Money and Financial Institutions, Pluralist Economics, or Behavioral Economics, and offers an important teaching moment. The first part of this essay argues that while some behavioral research seems to support an exaggerated "difference" view, non-simplistic behavioral research debunks this and instead reveals the immense unconscious power of stereotyping. The second part of this essay argues that the more urgently needed gender analysis of the financial industry is not concerned with (presumed) "differences" by sex, but rather with the role of gender biases in the social construction of markets. Specific examples and tools that can be used when teaching about difference, similarity, and markets are discussed throughout.

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  • Julie A. Nelson, 2011. "Would Women Leaders Have Prevented the Global Financial Crisis? Implications for Teaching about Gender, Behavior, and Economics," GDAE Working Papers 11-03, GDAE, Tufts University.
    • Handle: RePEc:dae:daepap:11-03
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    2. Fehr, Ernst & Falk, Armin, 2002. "Psychological foundations of incentives," European Economic Review, Elsevier, vol. 46(4-5), pages 687-724, May.
    3. Valerie Adams & Julie Nelson, 2009. "The Economics of Nursing: Articulating Care," Feminist Economics, Taylor & Francis Journals, vol. 15(4), pages 3-29.
    4. Nelson, J.A., 2013. "Ethics and the economist: What climate change demands of us," Ecological Economics, Elsevier, vol. 85(C), pages 145-154.
    5. Julie A. Nelson, "undated". "Does Profit-Seeking Rule Out Love? Evidence (or Not) from Economics and Law," GDAE Working Papers 10-06, GDAE, Tufts University.
    6. Jonathan M. Harris, "undated". "The Macroeconomics of Development without Throughput Growth," GDAE Working Papers 10-05, GDAE, Tufts University.
    7. Nelson, Julie A., 2009. "Between a rock and a soft place: Ecological and feminist economics in policy debates," Ecological Economics, Elsevier, vol. 69(1), pages 1-8, November.
    8. Nelson, Julie A., 2012. "Is Dismissing the Precautionary Principle the Manly Thing to Do? Gender and the Economics of Climate Change," Working Papers 179102, Tufts University, Global Development and Environment Institute.
    9. Julie A. Nelson, "undated". "Care Ethics and Markets: A View from Feminist Economics," GDAE Working Papers 10-02, GDAE, Tufts University.
    10. Daniela Beckmann & Lukas Menkhoff, 2008. "Will Women Be Women? Analyzing the Gender Difference among Financial Experts," Kyklos, Wiley Blackwell, vol. 61(3), pages 364-384, August.
    11. Lindquist, Gabriella Sjögren & Säve-Söderbergh, Jenny, 2011. ""Girls will be Girls", especially among Boys: Risk-taking in the "Daily Double" on Jeopardy," Economics Letters, Elsevier, vol. 112(2), pages 158-160, August.
    12. Nancy Folbre & Julie A. Nelson, 2000. "For Love or Money--Or Both?," Journal of Economic Perspectives, American Economic Association, vol. 14(4), pages 123-140, Fall.
    13. Timothy A. Wise, "undated". "Agricultural Dumping Under NAFTA: Estimating the Costs of U.S. Agricultural Policies to Mexican Producers," GDAE Working Papers 09-08, GDAE, Tufts University.
    14. Julie Nelson, 2007. "Economics for Humans:," Challenge, Taylor & Francis Journals, vol. 50(4), pages 17-25.
    15. Julie A. Nelson, 2011. "Would Women Leaders Have Prevented the Global Financial Crisis? Implications for Teaching about Gender, Behavior, and Economics," GDAE Working Papers 11-03, GDAE, Tufts University.
    16. Julie A. Nelson, "undated". "Getting Past "Rational Man/Emotional Woman": How Far Have Research Programs in Happiness and Interpersonal Relations Progressed?," GDAE Working Papers 09-07, GDAE, Tufts University.
    17. Zarsky, Lyuba, 2010. "Climate-Resilient Industrial Development Paths: Design Principles and Alternative Models," Working Papers 179080, Tufts University, Global Development and Environment Institute.
    18. Julie A. Nelson, 2012. "Are Women Really More Risk-Averse than Men?," GDAE Working Papers 12-05, GDAE, Tufts University.
    19. Julie A. Nelson, "undated". "The Relational Economy: A Buddhist and Feminist Analysis," GDAE Working Papers 10-03, GDAE, Tufts University.
    20. LINDA McDOWELL, 2010. "Capital Culture Revisited: Sex, Testosterone and the City," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 34(3), pages 652-658, September.
    21. Ferber, Marianne A. & Nelson, Julie A. (ed.), 1993. "Beyond Economic Man," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226242019, September.
    22. Rachel Croson & Uri Gneezy, 2009. "Gender Differences in Preferences," Journal of Economic Literature, American Economic Association, vol. 47(2), pages 448-474, June.
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    Cited by:

    1. Julie A. Nelson, 2012. "Are Women Really More Risk-Averse than Men?," GDAE Working Papers 12-05, GDAE, Tufts University.
    2. Timothy A. Wise, 2012. "The Cost to Mexico of U.S. Corn Ethanol Expansion," GDAE Working Papers 12-01, GDAE, Tufts University.
    3. Julie A. Nelson, 2011. "Would Women Leaders Have Prevented the Global Financial Crisis? Implications for Teaching about Gender, Behavior, and Economics," GDAE Working Papers 11-03, GDAE, Tufts University.
    4. Brenda Wyss, 2015. "Seats for the 51 %: Beyond the Business Case for Corporate Board Quotas in Jamaica," The Review of Black Political Economy, Springer;National Economic Association, vol. 42(3), pages 211-246, September.
    5. Fernández, Antonio Turrent & Wise, Timothy A. & Garvey, Elise, 2012. "Achieving Mexico’s Maize Potential," Working Papers 179101, Tufts University, Global Development and Environment Institute.
    6. Antonio Turrent Fernández & Timothy A. Wise & Elise Garvey, 2012. "Achieving Mexico’s Maize Potential," GDAE Working Papers 12-03, GDAE, Tufts University.

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