“Be prepared for a lot of unhappy guys out there,” writes Reihan Salam. Thanks to the Great Recession, the age of male dominance is coming to an end. More than 80% of job losses in America and Europe have fallen on men, with some bloggers already calling this the “he-recession”. Indeed, a huge shift in power from men to women is now well under way – Lithuania and Iceland have already rid themselves of the men “who got us into this mess and had a lot of fun doing it”, and elected women to run their countries. Across the globe more women are becoming the primary bread winners as the realisation dawns that “the aggressive, risk-seeking behaviour that has enabled men to entrench their power has now proven destructive and unsustainable”. So the most enduring legacy of the Great Recession will not be the death of Wall Street, Western finance, or even capitalism. “What will not survive is macho.”
Source: Moneyweek
