In the years following the financial crash, two issues have become central to the debate in economics: inequality and the uneven nature of sustainable development. These two issues are at the core of this book which aims to explain three key questions: why inequality has increased so much in the last three decades; why most advanced economies are stagnating or are experiencing moderate economic growth; and why, even where economic growth is occurring, the quality of that growth is questioned.
Inequality and Uneven Development in the Post-Crisis World is divided into three parts. The first part concerns the theoretical aspects of inequality, and ethical issues regarding economics and equality. The second part explores empirical evidence and policy suggestions drawing on the uneven levels of development and unprecedented levels of inequality experienced among advanced economies in the context of global financial capitalism. The third part focuses on sustainable development issues such as full employment, social costs of global trade liberalization, environmental sustainability and ecological issues. Along with inequality these issues are central for capitalism and for economic development.
This volume is of interest to those who study political economy, sustainable development and social inequality.
Table of Contents
Pasquale Tridico and Sebastiano Fadda
Part I Ethics, pluralism and theoretical approaches
Chapter 1 The rise of income inequality in rich countries
Chapter 2 Income inequality, household debt and growth
Chapter 3 Unsustainable unemployment and sustainable growth: a long-run perspective
Chapter 4 Shifting the social costs of trade: non-tariff measures as the new focus of trade policy
Chapter 5 Inequity and unsustainability: the role of financialized masculinity
Julie A. Nelson
Part II Empirical evidences of inequality
Chapter 6 Intergenerational inequality: transmission channels, direct and indirect mechanisms and evidence for European countries
Chapter 7 Financialised capitalism and inequality: shareholder-value-driven firms, marketised household balance sheets and bubbly financial markets
Nicholas Black and Ismail Ertürk
Chapter 8 Regional inequalities and foreign direct investments: the case of Hungary
Chapter 9 Financialization and inequalities: the uneven development of the housing market on the eastern periphery of Europe
Zsuzsanna Pósfai, Zoltán Gál and Erika Nagy
Part III Sustainable development issues
Chapter 10 The triple crisis: how can Europe foster growth, well-being and sustainability?
Miriam Rehm, Sven Hergovich and Georg Feigl
Chapter 11 The challenge of hydropower as a sustainable development alternative: benefits and controversial effects in the case of the Brazilian Amazon
Nicola Caravaggioa, Valeria Costantinia, Martina Iorioa, Salvatore Monnia and Elena Paglialungaa
Chapter 12 Careful with that switch! Willingness to save energy and income distribution
Gionata Castaldi, Alessio D’Amato and Mariangela Zoli
Sebastiano Fadda is Professor at the Roma Tre University, Rome, Italy, and teaches Advanced Labour Economics at the Department of Economics. He is director of ASTRIL (Interdisciplinary Association for the Study and Research of Labour) and has worked extensively on institutions, economic development and labour economics issues.
Pasquale Tridico is Professor at the Roma Tre University, Rome, Italy, and is a lecturer in Labour Economics and Economic Policy. He is director of a two-year master’s degree course (Labour Market, Industrial Relations and Welfare Systems). He is also Jean Monnet Chair of Economic Growth and Welfare Systems and elected General Secretary of the EAEPE. He is the author of Inequality in Financial Capitalism (Routledge, 2017).