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Low Income Women in the Great Depression and the Great Recession
허재인 강남포스트 학생기자 | 승인 2023.03.26 19:27

Most of the time, the incidents in history repeat in the same form but in different ways. Even though there is the same record of what happened, the specific information pieces differ. The principal agents, place, and time vary, but our society and people are affected similarly. The historical repetition demonstrates that people in different times had similar experiences, and sometimes a specific group of people is often affected by those patterns. In particular, minority groups like low-income women were harmed more than other demographics during the Great Depression and the Great Recession due to the lack of resources to help them. 

 

https://www.pbs.org/wgbh/roadshow/stories/articles/2014/4/14/migrant-mother-dorothea-lange/

Low-income women, especially in minority groups during the Great Depression and Great Recession, repeatedly dealt with more negative financial situations. Minority groups like African Americans in the Great Depression and unmarried women in the Great Recession faced more difficulties than their counterparts. African Americans faced discrimination, such as unemployment due to racism, and experienced other problems like low wages and limited jobs due to the policy. Unmarried women during the Great Recession, while experiencing unexpected conditions, handled debts and higher interest due to subprime lending. 

In both financial crises, women and minority groups were targeted to remain in the position of a social minority. The Great Depression and the Great Recession have a time gap of about 70 years, but there is a clear pattern of minority groups being far more economically disadvantaged compared to their counterparts. Society has followed this historical blueprint, with structural inequality embedded into its financial systems. We have kept reproducing this historical model, reaching similar results by isolating a particular group and not giving them structural support.
 

 

 

 

 

허재인 강남포스트 학생기자  webmaster@ignnews.kr

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