Writing for Foreign Policy, Reihan Salam declares that the global dominance of men has come to an end. And what caused this “monumental shift of power from men to women”? Salam argues that the Great Recession is a “mortal blow to the macho men’s club called finance capitalism.”
According to the U.S. Bureau of Labor Statistics, men lost 80% of total jobs lost since November. Men struggle to deal with the mental effects of job loss, and the world increasingly looks to women for leadership:
Indeed, it’s now fair to say that the most enduring legacy of the Great Recession will not be the death of Wall Street. It will not be the death of finance. And it will not be the death of capitalism. These ideas and institutions will live on. What will not survive is macho. And the choice men will have to make, whether to accept or fight this new fact of history, will have seismic effects for all of humanity—women as well as men.
Although not all countries will respond by throwing the male bums out, the backlash is real—and it is global. The great shift of power from males to females is likely to be dramatically accelerated by the economic crisis, as more people realize that the aggressive, risk-seeking behavior that has enabled men to entrench their power—the cult of macho—has now proven destructive and unsustainable in a globalized world.
Source: Foreign Policy