Family fortunes and the Global Financial Crisis

The consequences of an economic downturn for work, families and children

The Global Financial Crisis of 2007-2010 (GFC) has been described as the ‘worst financial crisis since the Great Depression of the 1930s’. This crisis presents a rare opportunity for the social sciences to directly study the effects of the business cycle on the relationship between the market, family households and the well-being of children.

In this context, there are many important issues for social scientists which the speakers in this Symposium will address:

• How is the GFC affecting incomes and household debt in Australia?
• Why is the downturn currently less severe in Australia than elsewhere?
• Which industries, occupations and subpopulation are faring worst?
• What is the experience of the disadvantaged and how are these events affecting Australian attitudes to inequality?
• Does the non-market economy grow in response to the shrinking market economy?
• How does employment affect parenting and how is the downturn affecting childcare?
• What are the likely effects of the GFC on public health and how do they differ within the community?
• What will be the economic, social and political legacies of the GFC in Australia?

Research on these topics is supported by the Academy of Social Sciences in Australia ARC LASP Grant.