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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. The rise of income inequality in rich countries / Pasquale Tridico -- Income inequality, household debt and growth / Riccardo Pariboni -- Unsustainable unemployment and sustainable growth : a long-run perspective / Sebastiano Fadda -- Shifting the social costs of trade : non-tariff measures as the new focus of trade policy / Werner Raza -- Inequity and unsustainability : the role of financialized masculinity / Julie A. Nelson -- Part II. Empirical evidences of inequality. Intergenerational inequality : transmission channels, direct and indirect mechanisms and evidence for European countries / Michele Raitano -- Financialised capitalism and inequality : shareholder-value-driven firms, marketised household balance sheets and bubbly financial markets / Nicholas Black and Ismail Ertürk -- Regional inequalities and foreign direct investments : the case of Hungary / Miklós Szanyi -- 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. The triple crisis : how can Europe foster growth, well-being and sustainability? / Miriam Rehm, Sven Hergovich and Georg Feigl -- The challenge of hydropower as a sustainable development alternative : benefits and controversial effects in the case of the Brazilian Amazon / Nicola Caravaggio, Valeria Costantini, Martina Iorio, Salvatore Monni and Elena Paglialunga -- Careful with that switch! Willingness to save energy and income distribution / Gionata Castaldi, Alessio D'Amato and Mariangela Zoli.

This book explores the foundations of the current economic crisis. Offering a heterodox approach to interpretation it examines the policies implemented before and during the crisis, and the main institutions that shaped the model of advanced economies, particularly in the last two decades. The first part of the book provides a theoretical analysis of the crisis. The roots of the 'great recession' are divided into fundamentals with origins in financial liberalisation, financial innovation and income distribution, and complementary or contributory factors such as the international imbalances, the.

The consequences of the global economic crisis which started in the United States in 2007-08 are still being felt in most of the advanced economies, and the mainstream tools of recovery are not having the required results. It seems that many of the after-effects of the crisis, including the instability of the financial markets, increasing public debts and limited economic growth, require new solutions from both economic policy and theory. Lower aggregate demand during the crisis increased the pressure on firms to be more competitive and at the same time, the crisis in the banking system has.

This book seeks to explain the global financial crisis and its wider economic, political, and social repercussions, arguing that the 2007-9 meltdown was in fact a systemic crisis of the capitalist system. The volume makes these points through the exploration of several key questions: What kind of institutional political economy is appropriate to explain crisis periods and failures of crisis-management? Are different varieties of capitalism more or less crisis-prone, and can the global financial crisis can be attributed to one variety more than others? What is the interaction between the labour market and the financialization process? The book argues that each variety of capitalism has its own specific crisis tendencies, and that the uneven global character of the crisis is related to the current forms of integration of the world market. More specifically, the 2007-09 economic crisis is rooted in the uneven income distribution and inequality caused by the current financial-led model of growth. The book explains how the introduction of more flexibility in the labour markets and financial deregulation affected everything from wages to job security to trade union influence. Uneven income distribution and inequality weakened aggregate demand and brought about structural deficiencies in aggregate demand and supply. It is argued that the process of financialization has profoundly changed how capitalist economies operate. The volume posits that financial globalization has given rise to growing international imbalances, which have allowed two growth models to emerge: a debt-led consumption growth model and an export-led growth model. Both should be understood as reactions to the lack of effective demand due to the polarization of income distribution.

Inequality has been increasing for decades in both rich and developing countries and the academic literature addressing it struggles to provide explanations, let alone solutions. This article is concerned with a relatively underexplored area, the relationship between macro-level inequality and organizational inequality. The core focus of the article is the recognition that the two phenomena are closely bound up one with the other. This is made possible by adopting Rousseau's notion of inequality as hierarchy and willingness to accept subordination to authority and disparity of treatment. In doing so, we highlight similarities and dissimilarities between Rousseau and Marx. Inequality remains an issue of hierarchy at both the macro and organizational levels. As it was for Rousseau, so it is today but it is much more layered than in Rousseau's day: inequality in society is the accepted degree of hierarchy among its members, inequality in the economy and at work is the extent to which, accepted or not, there is an imbalance of power, financial resources, remuneration of work and access to opportunities and services. The increase in inequality is due to a radical change in the socio-economic model of advanced economies. This change involves a shift towards financialization, a pressure on labour through flexibility, the decline of trade unions' power and the retrenchment of public social spending.