Inequality and Uneven Development in the Post-Crisis World Routledge Advances in Heterodox Economics Series

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.

Introduction

Pasquale Tridico and Sebastiano Fadda

Part I Ethics, pluralism and theoretical approaches

Chapter 1 The rise of income inequality in rich countries

Pasquale Tridico

Chapter 2 Income inequality, household debt and growth

Riccardo Pariboni

Chapter 3 Unsustainable unemployment and sustainable growth: a long-run perspective

Sebastiano Fadda

Chapter 4 Shifting the social costs of trade: non-tariff measures as the new focus of trade policy

Werner Raza

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

Michele Raitano

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

Miklós Szanyi

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).