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Would we have had this crisis if women had been running the financial sector?

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  • Ricardo F. Crespo
  • Irene van Staveren

Abstract

The two main ethical approaches, utilitarianism and deontology, have not been able to prevent some of the behaviours underlying the financial crisis. A third ethics, the ethics of care, might have been more effective than the other two in preventing the last financial crisis. The ethics of care is a feminist ethical theory concerned with relationships. It can be applied to a wide variety of relationships and has been tested in experimental settings, suggesting that women tend to behave more in ways that can be understood in terms of relationships, whereas men tend to behave more in terms of rules. Using these ethical theories, we analyse the crisis pointing at what are its causal behavioural attitudes and institutions.

Suggested Citation

  • Ricardo F. Crespo & Irene van Staveren, 2011. "Would we have had this crisis if women had been running the financial sector?," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 1(3-4), pages 241-250, October.
    • Handle: RePEc:taf:jsustf:v:1:y:2011:i:3-4:p:241-250
    DOI: 10.1080/20430795.2012.655892
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    Cited by:

    1. Irene van Staveren, 2014. "The Lehman Sisters hypothesis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 38(5), pages 995-1014.
    2. Karey Harrison, 2013. "Ontological Commitments of Ethics and Economics," Economic Thought, World Economics Association, vol. 2(1), pages 1-1, April.
    3. Irene van Staveren, 2017. "Dutch Banking Culture Six Years after the Fall of ABN AMRO Bank," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 64(2), pages 245-253, March.
    4. Erik Rietschoten & Koen Bommel, 2023. "A Critique of Utilitarian Trust: The Case of the Dutch Insurance Sector," Journal of Business Ethics, Springer, vol. 183(4), pages 1011-1028, April.

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